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CALGARY, ALBERTA--(Marketwire - Oct. 18, 2011) - QSolar Limited ("QSolar" or the "Company"), (CNSX:QSL) today announced that it intends to raise up to $2,000,000 by way of a brokered private placement of units (the "Offering") through Loewen, Ondaatje, McCutcheon Limited of Toronto. Each unit will consist of one common share and one half of a common share purchase warrant and will be offered on an exclusive best efforts basis. QSolar will issue up to 8,000,000 units at $0.250 per unit. Each whole warrant is exercisable at a price of $0.35 within 24 months from the date of issue. The common shares and warrants will be subject to a 4 month hold period from the date of closing. The Company reserves the right to increase the amount of the Offering by up to 25%, for total gross proceeds of $2.5 million, if there is a demand. |
