Non-brokered offering sells 10 million units with five-year warrants
By Devika Patel
Knoxville, Tenn., Sept. 5 - MicroCoal Technologies Inc. said it has arranged a C$3 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one warrant at C$0.30 per unit.
Each five-year warrant will be exercisable at C$0.45. The strike price is a 25% premium to the Sept. 4 closing share price of C$0.36.
Proceeds will be used for general working capital expenses, international marketing expenses and debt repayment.
The Vancouver, B.C., company provides solutions for companies, organizations and individuals looking to reduce or offset their global warming impact caused by greenhouse gas emissions.
| Issuer: | MicroCoal Technologies Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3 million
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.45
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 5
|
| Stock symbol: | CNSX: MTI
|
| Stock price: | C$0.36 at close Sept. 4
|
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