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NU E Power Raises C$3.9 Million In Total After Closing Second Tranche of s Non-Brokered Private Placement

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NU E Power (NUE.CN) closed the second tranche of its non-brokered private placement of units, raising C$3.9 million in total, it said in a statement late Wednesday.

The second tranche consisted of 12.6-million units priced at C$0.15 apiece for C$1.9 million. Each unit consists of a share and one-half of a three year warrant to buy a share for C$0.25

The company expects to use proceeds from the second tranche for advancement of its project portfolio, acquisition and evaluation of additional power infrastructure opportunities, working capital, and general corporate needs.

Shares of the company were last seen down C$0.005 to C$0.14 on the Canadian Securities Exchange.

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