SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: diddlysquatz who wrote (37)4/17/1998 9:47:00 PM
From: Ciao  Read Replies (1) of 6016
 
To all:

News release;

Global Thermoelectric Inc. Closes Oversubscribed Equity Offering

Global Thermoelectric Inc. announced today that it has closed its previously announced equity offering of 3,333,333 Units at a price of $0.90 per Unit for gross proceeds of $3 million. The offering was oversubscribed and was closed at the maximum amount. Each Unit consists of one common share and one common share purchase warrant. The exercise price for the common share purchase warrant is $1.05 with expiration at the close of business April 17, 1999. C.M. Oliver & Company Limited acted as agent on behalf of Global for this offering.

The net proceeds of the offering will be used primarily to fund Global's new solid oxide fuel cell development program, involving the use of technology transferred from a major German research institute. The Corporation's first successful test of a prototype cell occurred early in March. This technology will serve as the basis for commercial power supply products to be developed by Global. The remaining net proceeds will be used for production enhancement and automation at the Corporation's manufacturing plant and for general corporate purposes.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News