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Polaris Infrastructure Increases its Private Placement Offering of Convertible Debentures
Polaris Infrastructure Increases its Private Placement Offering of Convertible Debentures ...
About this update from Polaris Renewable Energy Inc.
[{"type":"text","content":"\n\n\n\nPolaris Infrastructure Increases its Private Placement Offering of Convertible Debentures\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 16, 2019\n\n\n\nTORONTO, May 16, 2019 /CNW/ - Polaris Infrastructure Inc. (\"Polaris Infrastructure\" or the \"Company\") (TSX:PIF) announced today that it has increased the size of its previously announced private placement of convertible debentures (the \"Convertible Debentures\") to $20,000,000. In addition, Cormark Securities Inc., Clarus Securities Inc., and a syndicate of agents (the \"Agents\") will now have an option to sell an additional $5,000,000 in Convertible Debentures under the offering for total gross proceeds of $25,000,000 (if exercised in full). \nAs previously announced, the Company intends to use the net proceeds of the offering for general corporate purposes and to provide the flexibility to pursue further corporate development opportunities in Peru and similar jurisdictions in Latin America. \nThe offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable 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.\nAbout Polaris Infrastructure Polaris Infrastructure is a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America. Currently, the Company operates a 72 MW geothermal project located in Nicaragua and a 5 MW run-of-river project in Peru. The Company is also completing the construction of another 2...