News
Apr 28, 2009CanGEA Corporate Member News: “SGP Proposes to Re-price and Extend Warrants”
News from CanGEA corporate member Sierra Geothermal Power Corporation:
Sierra Geothermal Power Corp. [TSX-V: SRA] (“SGP”) today announced a proposal to amend the 20 million warrants issued in a brokered private placement of units that closed on May 29, 2007. As 16 million of these warrants are held by an investor owning more than 10 per cent of the Company’s outstanding shares, TSX Venture Exchange regulations consider this investor to be an insider of the Company. Regulations limit the number of warrants held by an insider that may be re-priced to 10 percent of the total number of warrants.
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