Finavera Renewables Plans Private Placement

Finavera Renewables (TSX-V: FVR) announced it plans to raise $1 million through a non-brokered private placement at $0.05 per unit.

Each unit consists of one common share and one-half of a share purchase warrant, with each full warrant exercisable at $0.10 for 12 months from the date of closing of the private placement. 

Proceeds will be used to  continue development of its wind projects, primarily for the B.C. Peace Region.

The private placement is subject to TSX Venture Exchange approval.

Finavera Renewables is developing 300 MG wind plants in British Columbia, 150 MW project in Alberta, Canada and 175 MW project in Ireland.