GreenHunter Resources Inc. (NYSE MKT: GRH) said Jan. 22 that it will issue about 3.3 million common shares and about 1.2 million share purchase warrants in a private placement through subscription agreements. Units, consisting of one share and one warrant, are priced at 60 cents each, the company added.
Warrants will allow holders to purchase shares priced at 81 cents each, expiring three years after issuance, the company said.
Net proceeds could total about $2.7 million.
The offer is scheduled to close Jan. 27, the company said.
MLV & Co. is the sole placement agent.
Grapevine, Texas-based GreenHunter Resources Inc. provides water management solutions in the Appalachian Basin.
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