Business
Finavera Wind Energy Closes Over-Allotment Option on Flow-Through Financing
Apr. 18, 2011 (Canada NewsWire Group) -- VANCOUVER, April 18 /CNW/ - Finavera Wind Energy In...
About this update from Solar Alliance Energy Inc.
[{"type":"text","content":"\n\n\n Apr. 18, 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, April 18 /CNW/ - Finavera Wind Energy Inc. ('Finavera Wind Energy' or the 'Company') (TSXV: FVR) is pleased to announce that further to its press release\n dated March 29, 2011, it has issued an additional 425,532 flow-through\n shares under the terms of the over-allotment option (the\n "Over-Allotment"). The shares were issued at a price of $0.94 per share\n for additional gross proceeds of $400,000. Total gross proceeds raised\n by the Company increased to $4,703,583. The offering was led by NCP\n Northland Capital Partners Inc., in a syndicate that included Versant\n Partners Inc. (collectively the "Agents"). Macquarie Private Wealth\n Inc. also participated in the placement as a "special selling group\n member".\n\n\nIn connection with the closing of the shares issued under the\n Over-Allotment, the Agents received a cash commission of 7% of gross\n proceeds and compensation options entitling the Agents to purchase\n 29,787 common shares of the company. The compensation options are\n exercisable at a price of $0.94 per share until April 18, 2013. All\n securities issued in connection with the exercise of the Over-Allotment\n option are subject to a hold period which expires on August 19, 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...