25.10.2007: Meldung: Finavera Renewables announces private placement
The Offering is expected to close in November 2007 subject to receipt of applicable regulatory approvals including the approval of the TSX Venture Exchange. The proposed offering will be a private placement to “Accredited Investors” in the Provinces of Alberta, British Columbia, Saskatchewan, Quebec and Ontario and in the United States to “Qualified Institutional Buyers” and to a limited number of institutional “Accredited Investors” pursuant to registration exemptions of the U.S. Securities Act of 1933. The Units and Warrants will be subject to a hold period of four months from the date of issuance in accordance with the policies of the TSX Venture Exchange and applicable securities laws.
The Agents will receive a cash commission of 7% of the gross proceeds raised in the Offering. The Agents will also be entitled to receive compensation options to acquire at the offering price that number of Units equal to 7% of the number of Units sold pursuant to the Offering. The Agents’ compensation will be reduced in respect of specified possible investors. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors,
Jason Bak, CEO
For more information, contact the company at: 604-288-9051, or by email at