- KALiNA Power (KPO) has requested back-to-back trading halts ahead of an upcoming capital raise
- Recently, the power company secured an $8 million equity placement facility with Hong Kong-based energy and resource company, Long State Investment
- The funding is set to facilitate KALiNA’s ongoing working capital needs over the next 24 months
- Additionally, KALiNA awarded a contract to international engineering and construction company, Enerflex, on July 2
- Company shares last traded for 3.1 cents each on Friday, July 17
KALiNA Power (KPO) has requested back-to-back trading halts ahead of an upcoming capital raise.
The power company’s securities will remain in a trading halt until the commencement of normal trading on Friday, July 24, unless the announcement is made earlier.
Recently, the power company secured an $8 million equity placement facility with Hong Kong-based energy and resource company, Long State Investment.
Initially, KALiNA will be able to draw up to $400,000 at a time, but it may increase that withdrawal to $800,000 if Long State consents.
The funding is set to facilitate KALiNA’s ongoing working capital needs over the next 24 months.
Additionally, KALiNA awarded an engineering contract to international engineering and construction company, Enerflex, on July 2.
This marked an important step in KALiNA’s strategy to deploy multiple, combined cycle power plants in Alberta using KALiNA Cycle modules. Under the contract, these are being fabricated by Enerflex.
Company shares last traded for 3.1 cents each on Friday, July 17.