Nov 29, 2013 - Canadian GreenAngel Energy Corp (CVE:GAE) said Wednesday it would launch a non-brokered private placement seeing to raise up to CAD 50,000 (USD 47,200/EUR 35,000).
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.
The company will offer 714,286 units at a price of CAD 0.07 as part of the transaction. Each unit will consist of one common share and one non-transferable common share purchase warrant. Each warrant enables its holder to buy one common share at CAD 0.10.
Securities issued under the offering, which is pending clearance from the stock exchange, will be subject to a four-month lock-up period.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.