CORRECTED - Opel Technologies closes USD-3m private placement

Sep 10, 2012 - Canada-based Opel Technologies Inc (CVE:OPL, OTCQX:OPELF) today said it had completed the final tranche of its previously announced USD-3-million (EUR 2.3m) private placement with its agent IBK Capital Corp.

The final tranche amounted to USD 1.4 million remaining under the offering. The company announced the closing of the first tranche on June, the second one on June 25, and the third one on August 1.

Under the private placement, Opel Technologies offered 13 million units at a price of USD 0.23 per unit. Each unit includes one common share and one common share purchase warrant that enables the holder to buy one Opel Technologies common share at USD 0.35 for a period of three years.

(USD 1 = EUR 0.783)

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