OPEL completes C$3 million units placement with C$1.44 million tranche

Agent IBK Capital conducted the offering on a best-efforts basis

By Devika Patel

Knoxville, Tenn., Sept. 10 - OPEL Technologies Inc. said it raised C$1.44 million in the fourth and final tranche of a C$3 million private placement of units. The deal, which was conducted through agent IBK Capital Corp., was announced June 11, raised C$507,690 on June 8, C$692,310 on June 25 and C$357,420 on Aug. 1.

The company sold 13,043,479 units of one common share and one warrant at C$0.23 per unit on a best-efforts basis.

Each three-year warrant is exercisable at C$0.35. The strike price is a 45.83% premium to C$0.24, the June 7 closing share price.

Based in Toronto, OPEL Technologies makes dual- and single-axis trackers and high-concentration photovoltaic panels through OPEL Solar, Inc. and designs III-V semiconductor devices through ODIS Inc.

Issuer:	OPEL Technologies Inc.
Issue:	Units of one common share and one warrant
Amount:	C$3 million
Units:	13,043,479
Price:	C$0.23
Warrants:	One warrant per unit
Warrant expiration:	Three years
Warrant strike price:	C$0.35
Agent:	IBK Capital Corp.
Announcement date:	June 11
Settlement dates:	June 8 (for C$507,690), June 25 (for C$692,310), Aug. 1 (C$357,420), Sept. 10 (for C$1,442,580)
Stock symbol:	TSX Venture: OPL
Stock price:	C$0.24 at close June 7
Market capitalization:	C$27.09 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.