Non-brokered offering sold 17,001,667 units with three-year warrants
By Devika Patel
Knoxville, Tenn., July 11 – EEStor Corp. said it completed a C$449,750 second and final tranche of a C$3 million non-brokered private placement of units. The deal raised C$2.55 million on June 16.
The company sold 20 million units of one common share and one warrant at C$0.15 per unit. It sold 17,001,667 units in the initial tranche and 2,998,333 units in the second tranche.
Each three-year warrant will be exercisable at C$0.30, a 25% premium to the June 15 closing share price of C$0.24.
Proceeds will be used to advance licensing discussions, to further the company’s polymer program, to reduce debt and for general working capital purposes.
The Toronto company develops electrical energy storage and related capacitor technologies.
| Issuer: | EEStor Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,550,250
|
| Units: | 20 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | June 16 (for C$2,550,250), July 11 (for C$449,750)
|
| Stock symbol: | TSX Venture: ESU
|
| Stock price: | C$0.24 at close June 15
|
| Market capitalization: | C$16.18 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.
