Methes Energies signs funding deal for $1.25 million

June 30, 2015 |

In Nevada, Methes Energies announced that it has entered into agreements with certain institutional investors for a registered direct placement of approximately $1,250,000 of common stock at a price of $0.5435 per share.

In addition, the Company will issue to the investors warrants to purchase an aggregate of 1,781,292 shares of common stock (approx. 77% warrant coverage). The warrants have an exercise price of $0.882 per share and are exercisable beginning 6 months following their issuance, and expire five and one-half (5.5) years from closing.

The offering is expected to close on or about June 30, 2015, subject to satisfaction of customary closing conditions.

Chardan Capital Markets, LLC, acted as the sole placement agent for the transaction.

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