Mr. Michael Carten reports
SUSTAINABLE ENERGY TO ISSUE ADDITIONAL 15,000 FIRST PREFERRED SHARE UNITS
Sustainable Energy Technologies Ltd. will increase the size of its previously announced (news release: April 17, 2013) issue of 50,000 first preferred share units of up to a total of 65,000 units.
Each unit consists of one $10 8-per-cent five-year convertible first preferred share, Series 15, and 12 one-year common share purchase warrants. The preferred shares are convertible at the option of the holder into common shares of the company at a price of 12 cents per share. The warrants entitle the holder to acquire one common share at a price of 12 cents per share. The company intends to use the proceeds of this financing to increase working capital reserves for operations.
Closing of the issue is subject to approval by the TSX Venture Exchange.
We seek Safe Harbor.
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