Methes Energies enters into agreements for $1.25m registered direct offering

Methes Energies has entered into agreements with certain institutional investors for a registered direct placement of approximately $1.25 million (€1.1 million) of common stock at a price of $0.5435 per share.

In addition, the company will issue to the investors warrants to purchase an aggregate of 1,781,292 shares of common stock (approx. 77% warrant coverage). The warrants have an exercise price of $0.882 per share and are exercisable beginning six months following their issuance, and expire 5.5 years from closing.

The offering is expected to close on or about 30 June 2015, subject to satisfaction of customary closing conditions.

Chardan Capital Markets acted as the sole placement agent for the transaction.