Transaction|December 24, 2013
Ram Power completes rights offering
Torys acted as counsel to Dundee Securities with a team that included Janan Paskaran, Mile Kurta, Jason Zhou and Tiffany Ramsubick.
On December 24, 2013, Ram Power, Corp. (Ram Power) announced the completion of its previously announced offering of rights to holders of its common shares of record at the close of business on November 26, 2013. A total of approximately 67 million common shares were issued pursuant to the rights offering. The rights offering, announced November 18, 2013, raised gross proceeds of approximately C$5.4 million.
The net proceeds from the rights offering will be used by Ram Power to fulfill upcoming interest payment obligations to the holders of Ram Power's outstanding debentures and for general corporate and working capital purposes.
Ram Power is a renewable energy company engaged in the business of acquiring, exploring, developing, and operating geothermal properties, and has interests in geothermal projects in the United States, Canada, and Latin America.
Further information can be found on Marketwired's website.
The net proceeds from the rights offering will be used by Ram Power to fulfill upcoming interest payment obligations to the holders of Ram Power's outstanding debentures and for general corporate and working capital purposes.
Ram Power is a renewable energy company engaged in the business of acquiring, exploring, developing, and operating geothermal properties, and has interests in geothermal projects in the United States, Canada, and Latin America.
Further information can be found on Marketwired's website.