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CALGARY, ALBERTA--(Marketwire - April 18, 2012) - Genoil Inc. (TSX VENTURE:GNO) (OTCBB:GNOLF) announces plans to raise up to approximately $606,000 through a non-brokered private placement of approximately 6,733,000 Units, at a price of $0.09 per Unit. Each Unit consists of one common share and one common share purchase warrant exercisable at a price of $0.10 per share for 60 months following closing of the private placement. The securities to be issued in connection with this offering are subject to a four-month hold period. |
