Run of River plans $1.0-million private placementRun of River plans $1.0-million private placement
Run of River Power Inc (C:ROR)
Shares Issued 69,732,508
Last Close7/23/2009 $0.165
Friday July 24 2009 - News Release
Mr. Jako Krushnisky reports
RUN OF RIVER POWER ANNOUNCES $1.0-MILLION PRIVATE PLACEMENT
Run of River Power Inc. is planning a non-brokered private placement of up to5.9 million units at a price of 17 cents per unit, for gross proceeds of up to$1.0-million. Each unit will consist of one common share and 0.5 share purchasewarrant. Each whole warrant will entitle the holder to purchase one additionalcommon share at a price of $0.26 per share for 24 months from the date ofclosing of the private placement. The common shares issued upon closing of theoffering will be subject to a four-month hold period from the date of issue.Proceeds of the placement will be used for the continued development of theCompany's renewable energy projects and for general working capital purposes.Theprivate placement is subject to TSX Venture Exchange approval.
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