AVEC Raises $750,000 in Frankfurt, Germany Private Placement
AVEC Corporation has announced a private placement of its common stock for $750,000 USD. The offering consists of one share of common stock at $6.00 per share and 1/2 warrant to purchase another share at $8.00 per share within the next two years. The warrants are subject to an accelerated expiry if the shares trade at a closing price equal or superior to $9.00 for 20 consecutive trading sessions. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and were not offered or sold in the United States or to U.S. persons and could not be without registration or applicable exemption from the registration requirement of such Act.
Proceeds of the private placement will go to inventory expansion of "Solar Sun Systems" and general working capital.
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About AVEC Corporation
AVEC Corporation (AVEC) is a global solutions provider that owns, develops, invests in and licenses revolutionary technologies including solar, wind and geothermal alternative energy systems. It also owns and licenses multi fuel internal combustion engines and electric power generator technologies that have unlimited potential in military, industrial and commercial applications. AVEC and its partners are positioned to become unrivalled leaders in international green energy markets with technologies that produce more efficient, cost effective, environmentally sensitive and versatile solutions for use in a wide variety of important applications around the world.
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