Deal sells 425,000 units of one share and two warrants at $4.00 each
By Devika Patel
Knoxville, Tenn., Feb. 20 - Methes Energies International Ltd. said it completed a $1.7 million private placement of units at $4.00 per unit on Tuesday.
The company sold 425,000 units of one common share and two warrants.
Each class A warrant is exercisable until Oct. 12, 2017 at $7.50, which represents a 38.89% premium to the Feb. 15 closing share price of $5.40. Each class B warrant is exercisable until Oct. 12, 2017 at $10.00, which represents a 85.19% premium to the Feb. 15 closing share price.
Paulson Investment Co., Inc. was the lead agent. Barrett & Co., ViewTrade Securities Inc. and Finance 500 Inc. were the co-placement agents.
Methes is a renewable energy company based in Las Vegas.
| Issuer: | Methes Energies International Ltd.
|
| Issue: | Units of one common share and two warrants
|
| Amount: | $1.7 million
|
| Shares: | 425,000
|
| Price: | $4.00
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Oct. 12, 2017
|
| Warrant strike price: | $7.50, $10.00
|
| Agents: | Paulson Investment Co., Inc. (lead), Barrett & Co., ViewTrade Securities Inc. and Finance 500 Inc.
|
| Settlement date: | Feb. 19
|
| Stock symbol: | Nasdaq: MEIL
|
| Stock price: | $5.40 at close Feb. 15
|
| Market capitalization: | $28.51 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
