The subscription agreement is for a proposed private placement of an aggregate of approximately 96 million common shares of Shear Wind's share capital from treasury to be issued to GAHC, which is an indirect wholly owned subsidiary of Spanish utility conglomerate Inveravante Inversiones Universales SL.
Manuel Jove Capellan, president and CEO of Inveravante, holds approximately 99.95% of the voting securities of Inveravante and will purchase the shares at a subscription price of C$0.2792 per share, for aggregate subscription proceeds of approximately C$26.9 million.
SOURCE: Shear Wind
