Zinc8 Energy Solutions raises $1.8M from exercise of warrants
by CM Staff
The company issued the warrants back in September of 2020 for a two year term. Each of the warrants were exercised into one common share at a price of $0.30 per share.
Zinc8 Energy Solutions Raises $1.8 Million from Exercise of Warrants (CNW Group/Zinc8 Energy Solutions Inc.)
VANCOUVER — Zinc8 Energy Solutions Inc. says it has raised $1,818,806 in gross proceeds from the exercise of 6,062,688 warrants over the past few weeks.
The warrants which were issued on September 4, 2020 for a two year term were each exercised into one common share at an exercise price of $0.30 per share. After the company’s exercise of these warrants, Zinc8’s total shares outstanding is approximately 161 million shares.
The company issued the warrants back in September of 2020 for a two year term. Each of the warrants were exercised into one common share at a price of $0.30 per share.
“Raising over $1.8 million through the exercise of these warrants over the last few weeks not only adds to our cash position, but reinforces the support that we have received from our shareholders,” said Ron MacDonald, president and CEO of Zinc8 Energy Solutions Inc. in a statement.
“We appreciate the investors’ support to achieve our developmental goals as we progress on our path towards full commercialization of our zinc-air energy storage systems.”
