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Provider: Reuters Investment Profile

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Solarvest BioEnergy Inc Closes Non-Brokered Private Placement

Wednesday, 27 Mar 2013 05:40pm EDT 

Solarvest BioEnergy Inc announced it has closed a non-brokered private placement, pursuant to which an investor purchased from the Company 400,000 common shares at a price of $0.25 per share for gross proceeds of $100,000. This placement was entirely subscribed by a director and officer who is also a Control Person of the Company and the placement is exempt from shareholder approval accordance with MI 61-101 (Protection of Minority Security Holders in Special Transactions). Proceeds from this private placement will be used as general working capital. The shares will be subject to resale restrictions for a period of four months from closing under applicable securities legislation. 

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26 Sep 2014