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Ram Power Corp Announces Rights Offering

Monday, 18 Nov 2013 06:21pm EST 

Ram Power Corp announced that it will be offering rights (the "Rights Offering") to holders of its common shares ("Common Shares") of record at the close of business on November 26, 2013 (the "Record Date"). Pursuant to the Rights Offering, each holder of Common Shares will receive one transferable right (a "Right") for each Common Share held. Every 4.5 Rights will entitle a holder to purchase one Common Share at a price of $0.08. A Rights Offering circular (the "Circular"), together with rights certificate, will be mailed to registered holders of the Company's Common Shares as of the Record Date. To subscribe for Common Shares, a completed rights certificate, together with payment in full of the subscription price for each Common Shares subscribed for, must be received by the subscription agent for the Rights Offering, CST Trust Company (the "Subscription Agent") prior to the expiry of the rights on December 23, 2013. The Rights and the Common Shares issuable upon exercise of the Rights will be listed on the TSX. The Rights will be listed for trading on the TSX beginning on November 22, 2013. The Rights Offering will raise gross proceeds of approximately $5.3 million. The net proceeds from the Rights Offering will be used by Ram Power to fulfill upcoming interest payment obligations to the holders of Ram Power's outstanding debentures in the aggregate amount of approximately $2,180,000 due December 31, 2013 and for general corporate and working capital purposes. 

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