The Board of Directors of Plutonic Power Corporation (PCC - TSXV)
announces that the Company has arranged for a nonbrokered private
placement financing. The financing shall consist of the sale of 3.1
million units of the Company. Proceeds of the financing shall be used
for general administrative purposes and to continue funding development
of the Company's portfolio of run of river green hydroelectric power
Each unit shall consist of one $0.80 common share and one half of one
common share purchase warrant with each whole warrant entitling the
holder to purchase a further common share at $1.25 for one year and at
$1.75 for a two year period.
A finders fee shall be payable on certain portions of the financing.
Directors and Officers of Plutonic will be participating in the
All securities issued in this financing shall be subject to a four-month
hold period and closure of the financing is conditional on receipt of
TSX Venture Exchange approval.
On behalf of the Board of Directors
PLUTONIC POWER CORPORATION
Donald McInnes, President
For additional information please contact:
Office: 604-669-4999 ext 1034
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.