Cassels acted for the underwriters.
On February 17, 2021, UGE International Ltd. closed a bought deal private placement of 2,645,000 units at a price of $2.65 per unit for aggregate gross proceeds of approximately US$7 million, which includes the exercise in full of the underwriters’ over-allotment option. Each unit is comprised of one common share and one-half of one common share purchase warrant of UGE. Each warrant entitles the holder to acquire one share at a price of $3.30 for a period of 24 months following the closing of the offering.
The offering was conducted by a syndicate of underwriters led by Eight Capital, and including PI Financial Corp. and Echelon Wealth Partners Inc.
UGE International is a worldwide distributed renewable energy company, founded in 2008, with headquarters in New York City and Toronto.
The Cassels team included Sean Maniaci (Picture), Jamie Litchen, David Singh and Thea Gaertner (Securities and Energy).
Involved fees earner: Thea Gaertner – Cassels Brock & Blackwell LLP; Jamie Litchen – Cassels Brock & Blackwell LLP; Sean Maniaci – Cassels Brock & Blackwell LLP; David Singh – Cassels Brock & Blackwell LLP;
Law Firms: Cassels Brock & Blackwell LLP;