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BluEnergies Upsizes Private Placement to C$20.7 Million on Strong Demand

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BluEnergies (BLU.V) increased the size of its previously announced non-brokered private placement to up to C$20.70 million from C$10.13 million, citing strong investor demand.

The company said Tuesday the offering will consist of up to 9.2 million units priced at C$2.25 each, compared with the previously announced 4.5 million units at the same price.

BlueEnergies aims to use the net proceeds for the exploration and advancement of the assets as well as for working capital and general corporate purposes.

Shares of the company closed up C$0.17 to C$2.25 on TSX Venture Exchange on Tuesday.

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