By Sheri Kasprzak
New York, Dec. 19 - Western Wind Energy Corp. said it has secured another C$1.5 million from a private placement with Pacific Hydro Ltd.
Pacific Hydro bought 1 million units at C$1.50 each.
The units include one share and one warrant. The warrants are exercisable for two years at C$1.60 each.
On Nov. 3, Pacific Hydro bought 666,667 of the units under the same terms. The offering is being conducted in several tranches for up to C$6.5 million in proceeds.
A portion of the proceeds will be used to submit a US$825,000 deposit toward the first payment to Mitsubishi Power Systems for 15 megawatts of wind turbine generators.
Based in Coquitlam, B.C., Western Wind operates wind-energy electrical generation facilities.
| Issuer: | Western Wind Energy Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.5 million
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| Units: | 1 million
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| Price: | C$1.50
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1.60
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| Investor: | Pacific Hydro Ltd.
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| Settlement date: | Dec. 19
|
| Stock price: | C$1.78 at close Dec. 16
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