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FINWIRES

HydroGraph Clean Power Upsizes Bought Deal Offering to C$61 Million

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HydroGraph Clean Power (HG.CN) on Tuesday said it is upsizing a bought deal share offering to C$61.2 million from C$50 million.

The company will now sell underwriters nine-million share units priced at at C$6.80 each and made up of a share and one half of a two-year warrant to buy a share for C$8.16.

The company also granted underwriters a 1.4-million unit over-allotment option.

Proceeds will be used for business development activities, expansion of American facilities, working capital and general corporate needs, it said.

Shares of the company closed up 10% to C$6.84 on Monday on the Canadian Securities Exchange.

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