Canadian QSolar plans USD-2m unit offering

Oct 19, 2011 - Canadian solar panel maker QSolar Ltd (CNSX:QSL) said Tuesday it was to sell USD 2 million (EUR 1.445) in units to support the execution of current orders and for general working capital.

The company intends to offer 8 million units priced at USD 0.25 each. A unit will include one common share and a half of a two-year share purchase warrant. A whole warrant will allow its owner to purchase one QSolar share for USD 0.35, the company said.

The brokered private placement will be arranged by Toronto-based Loewen, Ondaatje, McCutcheon Ltd. QSolar said that depending on demand it might bolster the offering amount by 25% for total proceeds of USD 2.5 million.

(USD 1 = EUR )

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