Vancouver, British Columbia-based Keewatin Windpower Corp. has completed its financing consisting of the sale of 1,075,000 restricted shares of its common stock at C$1.20 each for gross proceeds of C$1,290,000.
Because the offering was oversubscribed, management permitted the sale of additional shares beyond the original number that it originally offered, the company notes. In connection with the funding, Keewatin paid finders' fees of 1,000,000 share purchase warrants to Vision Opportunity Master Fund Ltd. and C$126,750 to related parties.
Keewatin plans to use the proceeds of the financing to cover ongoing pre-development costs in connection with its proposed wind power development project located in southwestern Saskatchewan, as well as for general working capital.
