Mankiewitz / BladeRep id2095
in News Departments > FYI

Halifax, Nova Scotia-based Shear Wind has closed its previously announced private placement consisting of the issuance of 3.5 million units at a price of $0.47 per unit for total proceeds of $1.7 million.

Each unit includes one common share and one-half of one purchase warrant, with each full warrant entitling the holder to purchase one additional common share at a price of $0.55 within 24 months of closing.

The common shares and warrants will be subject to a four-month hold period. Blackmont Capital Inc. received a cash commission of $160,150 in connection with facilitating the private placement.
Mortenson id2096

The proceeds from the private placement will be used to further develop Shear Wind's Glen Dhu Wind Project in Nova Scotia.

SOURCE: Shear Wind Inc.


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