GreenAngel Energy pockets USD 100,500 in units sale

Dec 4, 2012 - Canadian GreenAngel Energy Corp (CVE:GAE) on Monday said it had closed its previously announced non-brokered private placement of one million units, raising CAD 100,000 (USD 100,544/EUR 76,914) gross.

GreenAngel, which invests in early-stage green technology firms, plans to allocate the proceeds for general working needs and for additional investments in emerging clean energy technologies, it said.

Directors of the company purchased 690,000 of units as part of the offering, which was fully subscribed. Each unit includes one common share of GreenAngel and one non-transferable common share purchase warrant. Each warrant enables its holder to buy one common share at CAD 0.10 in the first two years of the warrant term.

(CAD 1.0 = USD 1.005/EUR 0.769)

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