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  • Oceanic Wind Energy (NKW.H) has announced its intention to complete a non-brokered private placement
  • The company will offer a maximum of 2,068,965 units at $0.145 per unit for gross proceeds of up to $300,000
  • Proceeds will be used to support Northland Power Inc. in their work to obtain a PPA for the offshore wind project in Hecate Strait
  • Oceanic Wind Energy Inc engages in the development of renewable energy projects
  • Oceanic Wind Energy Inc. (NKW.H) is up 3.45 per cent, trading at C$0.15 per share at 12:30 pm ET

Oceanic Wind Energy (NKW.H) has announced its intention to complete a non-brokered private placement.

The company will offer a maximum of 2,068,965 units at $0.145 per unit for gross proceeds of up to $300,000.

Each unit shall consist of one common share and one common share purchase warrant. Each warrant will be exercisable for one share at a price of $0.20 for a period of one year from the date of issuance.

Proceeds will be used for general corporate purposes, working capital and to support Northland Power Inc. in their work to obtain a PPA for the offshore wind project in Hecate Strait.

A finder’s fee may be paid.

Completion of the Offering remains subject to the approval of the Exchange. All securities issued will be subject to a four-month plus one-day statutory hold period.

Oceanic Wind Energy Inc. (NKW.H) is up 3.45 per cent, trading at C$0.15 per share at 12:30 pm ET.

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