Zinc8 Energy Solutions Inc (CVE:ZAIR) announced Thursday it is raising up to C$1.4 million to support its strategy to develop and commercialize low-cost zinc-air batteries.
The Vancouver-based company is issuing up to 8.75 million units priced at C$0.16 per unit, it said in a release.
Each unit contains one share and one whole warrant exercisable at C$0.30 for a 24-month period following the closing date.
READ: Zinc8 Energy Solutions engages Incite Capital Markets to provide investor relations and capital markets advisory services
Zinc8 said it plans to use proceeds from the private placement for general working capital.
Zinc8 has assembled an experienced team to execute the development and commercialization of a dependable low-cost zinc-air battery. This mass storage system offers both environmental and efficiency benefits. Zinc8 strives to meet the growing need for secure and reliable power.
Contact Angela at email@example.com
Follow her on Twitter @AHarmantas