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BIOTEQ Announces Private Placement up to $5,000,000
BIOTEQ Announces Private Placement up to $5,000,000.
About this update from Bqe Water Inc
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Nov. 10 /CNW/ - BIOTEQ Environmental Technologies Inc.\n(BQE:TSX-V) (\"BioteQ\") is pleased to announce that it has negotiated, subject\nto regulatory approval and formal documentation, a brokered private placement\nwith Canaccord Capital Corporation (\"Canaccord\") to raise up to $5,000,000,\nwith an over-allotment option of up to an additional 15%, on a commercially\nreasonable efforts basis. Funds will be raised through the sale of units to\npurchasers in British Columbia, Alberta and Ontario and in such other\njurisdictions in Canada and outside Canada, which are agreed to by the Company\nand Canaccord. The placement will be for 5,555,555 units at a price of $0.90\nper unit. Canaccord will be entitled to increase the offering size by up to an\nadditional 833,333 units. Each unit will comprise one Common Share and one\nhalf of one transferable Common Share Purchase Warrant (\"Warrant\"). Each whole\nWarrant will entitle the holder to acquire one additional Common Share for a\nperiod of two years from closing at a price of $1.25 per common share. The\nproceeds of this offering will be used for working capital purposes.\n\nCorporate Profile\n-----------------\n\nBioteQ is establishing itself as a leader in the treatment of acid\ncontaminated water through the use of its patented BioSulphide(R) Process.\nFocused on the mining industry, BioteQ has partnered with leading metal\nproducers including Phelps Dodge, Breakwater and Falconbridge as well as\nutilities operator EPCOR Water Services, to finance, design, build and operate\nmine site water treatment plants which recover saleable metals in addition to\nmeeting ever stricter environmental regulations.\n\nOn behalf of the Board of Directors\n\nBrad Marchant\n\n\n\n","length":1797,"tagName":"div"}]