Methes Energies closes $1.7 million private placement

February 21, 2013 |

In Nevada, Methes Energies has completed a $1.7 million private placement. In the offering, Methes sold 425,000 units to accredited investors at a purchase price of $4.00 per unit, each unit consisting of one share of common stock, one redeemable Class A warrant and one redeemable Class B warrant. Net proceeds from the offering were approximately $1.5 million, after deducting offering expenses and placement agent fees. Paulson Investment Company, acted as lead placement agent, and Barrett & Company, ViewTrade Securities Inc. and Finance 500 Inc., acted as co-placement agents.

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