Business
Finavera Wind Energy Closes Flow-Through Financing
Mar. 29, 2011 (Canada NewsWire Group) -- VANCOUVER, March 29 /CNW/ - Finavera Wind Energy In...
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"\n\n\n Mar. 29, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, March 29 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind Energy' or the 'Company') (TSX-V: FVR) is pleased to announce the closing of the private placement\n announced March 7, 2011. A total of 4,578,280 flow-through shares have\n been placed at $0.94 per share for gross proceeds of $4,303,583.20. The\n offering was led by NCP Northland Capital Partners Inc., in a syndicate\n that includes Versant Partners Inc. (collectively the "Agents").\n Macquarie Private Wealth Inc. also participated in the placement as a\n "special selling group member". At the option of the Agents,\n exercisable until April 14, 2011, the offering may be increased by up\n to an additional $750,000 being up to 797,873 additional flow-through\n shares, on the same terms and conditions.\n\n\nIn connection with the offering, the Agents received a cash commission\n of 7% of gross proceeds of the offering and compensation options\n entitling the Agents to purchase 320,480 common shares of the company.\n The compensation options are exercisable at a price of $0.94 per share\n until March 29, 2013. All securities issued in connection with the\n offering are subject to a hold period which expires on July 30, 2011.\n\n\nThe proceeds from the sale of flow-through shares will be used for the\n continued development of the Company's portfolio of wind projects in\n British Columbia. The portfolio includes the 77 megawatt (&...