- AmmPower Corp. (AMMP) enters an agreement with an institutional investor for a private placement of its common shares and warrants for $3 million
- AmmPower will issue a combination of 7.1 million common shares and warrants for $0.42 each
- Proceeds will be used for research and product development activities and general working capital purposes
- The private placement is expected to close by Wednesday
- AmmPower Corp. (AMMP) is unchanged and is trading at $0.52 per share as of 8:20 a.m. EST
AmmPower Corp. (AMMP) has announced a private placement of its common shares and warrants for gross proceeds of $3 million.
AmmPower will issue a combination of 7.1 million common shares and warrants for $0.42 each.
A warrant will entitle the holder to purchase one common share for $0.52 for a period of five years.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement.
The net proceeds of the private placement will be used by the company for research and product development activities and for general working capital purposes.
No securities were offered or sold to Canadian residents. The private placement is expected to close by Wednesday.
AmmPower is a Vancouver-based resource exploration company focused on clean energy.
AmmPower Corp. (AMMP) is unchanged and is trading at $0.52 per share as of 8:20 a.m. EST.