Through a private placement, Sierra Geothermal is selling 20,000,000 units (a unit is a share and a warrant to buy another share at a fixed price) for C$0.50 per unit yielding C$10,000,000. Net of the 8% fee charged by Jacob & Company Securities Inc. to raise the cash, Sierra should end up with just over $9M to help with projects like Reese River in Nevada.


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This entry was posted on Monday, March 5th, 2007 at 9:53 am and is filed under Business, Geothermal.