RE: Sedar LinkThe material change notice dated August 22 on Sedar is good news. It is stating that the offering from May 2007 is completed early and everyone has excercised an early option. This is as result of the change in the offer in June of this year to accelerate the completion date of the offering, no doubt in order to get earlier capital to ramp up production. I would take this to mean no further dilution at this point unless there are huge contracts in the near future necessitating further inventory financing. It would also explain some of the recent large transactions. Since D&D was the broker for the transaction, it might also explain the selling by Anonymous and acquiring by Loewen. However that is purely conjecture. It also indicates I suppose a further dilution of the stock which should now total the relative number above 118 million shares. That change will be reflected somewhat on 2nd quarter FR and any excercised after July 1 on the 3rd quarter FN as far as outstanding shares. IMHO
Calgary, Alberta – June 27, 2008 – Sustainable Energy Technologies Ltd. (“Sustainable Energy” or the
“Company”) has offered holders of common share purchase warrants issued by the Company as part of a Unit Offering on May 16, 2007, and exercisable at $0.30 per share until November 16, 2008, the right to exercise their warrants at a price of $0.25 per share, and to receive in exchange, one Common Share of the Company and one replacement warrant, exercisable at a price of $0.35 per share until May 16, 2009.
The Company’s offer is open for acceptance until July 18, 2008. Any warrants not exercised by July 18, 2008 will remain unaffected and will continue to be exercisable at a price of $0.30 per share until November 16, 2008.
The net proceeds will be used to accelerate Sustainable’s entry into the North American market, which is occasioned by the previously announced (May 26, 2008) joint distribution agreement with Ingeteam SA, and for general corporate purposes.
As of the date hereof, there are 16,249,750 warrants issued and outstanding.
AUG. . 22
5. Full Description of Material Change:
The Company announced that it has completed a previously announced
(May 15, 2007) private placement of 32,500,000 Units at a price of $0.20
per Unit. The net proceeds of the issue, which was oversubscribed, will
be used to build out product inventory, to reduce corporate debt, and
for general corporate purposes. Each Unit will consist of one common
share and one-half of one common share purchase warrant with one
whole warrant entitling the holder to purchase an additional common
share at an exercise price of $0.30 for the period of eighteen months
from closing. D&D Securities, Agent for the offering was paid a
commission equal to cash 7% of gross proceeds and 7% broker’s warrants
that expire 18 months from closing. All securities issued pursuant to
these private placements, including any securities issued in payment of
commissions or finders' fees, will be subject to a four-month hold period,
commencing at closing.
6. Disclosure for Restructuring Transactions:
not applicable