Energy Visions Inc. (Ottawa, Ontario) announced that it has successfully completed its equity offering, raising gross proceeds of CDN$3.0 million.
The offering comprises four million shares of common stock at a price of CDN$0.75 per share. The net proceeds of the offering will be used to repay outstanding debentures, fund research and development, and acquire laboratory equipment.
President and CEO Wayne Hartford commented, "We are very pleased with the response to our Canadian offering and to have successfully closed our IPO despite the current difficult market conditions. We feel it is a great indication of our company’s potential to be one of the very few successful technology IPO’s this summer."
