Vancouver, British Columbia-based Finavera Wind Energy Inc. says it has closed a C$179,460 non-brokered private placement consisting of 535,700 units at a price of C$0.335 per unit. Each unit consists of one common share and share purchase warrant, with each warrant exercisable at C$0.50 for 12 months from the date of closing of the private placement.
Shares issued pursuant to this private placement are subject to a four-month hold. The company says it has received final approval from the TSX Venture Exchange for the private placement.
