11 September 2012

OPEL completes final tranche in $3,000,000 financing

OPEL Technologies Inc of Toronto, Ontario, Canada has successfully completed the final tranche of its previously announced $3,000,000 financing through its agent IBK Capital Corp.

The private placement offering consisted of 13,043,479 units at $0.23 each. Each unit consists of one common share and one common share purchase warrant. One full warrant allows the holder to acquire one common share of OPEL for a period of three years at an exercise price of $0.35 per share. The securities issued pursuant to the private placement will be subject to a hold period which expires four months and one day following closing.

The final tranche amounted to the entire remaining $1,442,580 available under the offering. A cash commission equal to 7% of the funds raised and 10% of the units sold in the form of broker warrants were paid to the agent. Each broker warrant allows the holder to acquire one common share of OPEL at a price of $0.23 for 48 months.

Tags: OPEL Technologies

Visit: www.opeltechinc.com