Catch the Wind Ltd. has announced that it has entered into an agreement with a syndicate of agents led by National Bank Financial Inc., and including Research Capital Corp. and Canaccord Capital Inc. to sell? a minimum of CDN $ 15 million in common shares of the company.
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The Common Shares will be offered via private placement on an agency basis at a price of CDN $ 1.30. Pursuant to applicable Canadian securities laws, the Common Shares will be subject to a four-month hold period from the time of closing of the Offering. The Offering, which is subject to all necessary regulatory approvals, is expected to close on or about May 20, 2009, or such other date as the Agents and the company may agree upon. The net proceeds of the Offering will be used to further develop the efficient manufacture of the company’s Vindicator Laser Wind Sensor and other laser based wind sensors.? The net proceeds will also be used for general working capital purposes.
