02:23:25 EST Tue 20 Nov 2018
Enter Symbol
or Name
USA
CA



UGE International Ltd
Symbol C : UGE
Shares Issued 37,103,932
Close 2017-06-05 C$ 0.66
Recent Sedar Documents

UGE Int'l arranges $1.8-million private placement

2017-06-06 09:47 ET - News Release

An anonymous director reports

UGE ANNOUNCES $1,800,000 BOUGHT DEAL PRIVATE PLACEMENT

UGE International Ltd. has entered into an agreement with a syndicate of underwriters led by Canaccord Genuity Corp., pursuant to which the underwriters have agreed to purchase three million units from the company at a price of 60 cents per unit on a bought deal private placement basis for aggregate gross proceeds of $1.8-million.

Each unit will consist of one common share of UGE and one-half of one warrant to purchase common shares. Each warrant will entitle the holder to purchase one common share of the company at a price of 80 cents for a period of 24 months following the closing of the offering.

The company has also granted the underwriters an option to purchase up to an additional 450,000 units, for aggregate gross proceeds of up to an additional $270,000 to cover overallotments, exercisable in whole or in part at any time until 48 hours prior to the closing date (as defined below).

The gross proceeds from the sale of the units will be used for expansion plans concerning the company's business and for general corporate and working capital purposes.

The common shares and warrants issuable pursuant to the offering will be subject to a statutory hold period lasting four months and one day following the closing date (as defined below).

The closing of the offering is expected to occur on or about June 27, 2017. The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange.

About UGE International Ltd.

UGE delivers immediate savings to businesses through cleaner electricity. The company helps commercial and industrial clients become more competitive through the low cost of distributed renewable energy. With over 330 megawatts of experience globally, the company works daily to power a more sustainable world.

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