By Devika Patel
Knoxville, Tenn., June 23 - Thermal Energy International Inc. announced it has settled a private placement of shares for C$15 million.
The company sold 68,181,818 common shares at C$0.22 apiece.
The deal was conducted by agents Max Capital Markets Ltd. and Jacob and Co. Securities Inc.
Proceeds will be used to complete the company's acquisition of Gardner Energy Management Ltd. in the United Kingdom.
Ottawa-based Thermal Energy provides energy, emission reduction and bioenergy solutions.
| Issuer: | Thermal Energy International Inc.
|
| Issue: | Common shares
|
| Amount: | C$15 million
|
| Shares: | 68,181,818
|
| Price: | C$0.22
|
| Warrants: | No
|
| Agents: | Max Capital Markets Ltd. and Jacob and Co. Securities Inc.
|
| Settlement date: | June 23
|
| Stock symbol: | TSX Venture: TMG
|
| Stock price: | C$0.26 at close June 23
|
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