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Date Announced: 10 Sep 2012
Canada firm raises another $1.4 million to develop versatile platform technology.
SHELTON, CONNECTICUT and TORONTO, ONTARIO--(Marketwire - Sept. 10, 2012) - OPEL Technologies Inc. (OPL.V)(OPELF) ("OPEL" or "the Company") is pleased to announce that it has successfully completed the final tranche of its previously announced $3,000,000 financing through IBK Capital Corp. ("IBK") as agent.
The private placement offering consisted of 13,043,479 Units at a price of $0.23 per Unit. Each unit consists of one common share and one common share purchase warrant. One full warrant allows the holder to acquire one common share of OPEL for a period of three years at an exercise price of $0.35 per share. The securities issued pursuant to the private placement will be subject to a hold period which expires four months and one day following closing.
The final tranche amounted to the entire remaining $1,442,580 available under the offering. A cash commission equal to 7% of the funds raised and 10% of the units sold in the form of broker warrants were paid to the agent. Each broker warrant allows the holder to acquire one common share of OPEL at a price of $0.23 for 48 months.
Source: OPEL Technologies
E-mail: via web site
Web Site: www.opelinc.com
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