By Sheri Kasprzak
New York, Jan. 5 - Hy-Drive Technologies Ltd. said it has concluded a private placement for C$5,084,215.
The company sold 7,944,087 shares at C$0.64 each to 19 investors.
The investors received warrants for 4,681,366 shares, exercisable at C$0.80 each for two years.
Capstone Investments and Octagon Capital Corp. were the placement agents.
Based in Toronto, Hy-Drive is an energy technology firm that has developed a hydrogen generating system used in combustion engines.
Issuer: | Hy-Drive Technologies Ltd.
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Issue: | Stock
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Amount: | C$5,084,215
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Shares: | 7,944,087
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Price: | C$0.64
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Warrants: | For 4,681,366 shares
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Warrant expiration: | Two years
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Warrant strike price: | C$0.80
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Placement agents: | Capstone Investments and Octagon Capital Corp.
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Settlement date: | Jan. 4
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Stock price: | C$0.95 at close Jan. 4
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