$DNRG HERE IS THE HUGE NEWS OUT 2DAY,,,,
Jul 27, 2015) - Dominovas Energy Corporation (OTCQB: DNRG), an energy-solutions company headquartered in Atlanta, GA, announces it has engaged Pyrenees Investments, LLC as the Company's investment bank to prepare a private placement of shares of common stock and warrants to purchase shares of common stock for gross proceeds of up to US$10 million.
The Company intends to use the net proceeds of the offering, excluding any future proceeds from the exercise of the warrants, to fund working capital and other general corporate purposes. The offering is expected to close prior to the end of Q3 2015, subject to satisfaction of customary closing conditions. Pyrenees Investments is acting as the Company's placement agent on a best efforts basis.
The capital raised will allow Dominovas Energy to expand its energies in the manufacture and deployment of clean, reliable and sustainable power generation via the RUBICON™, its Solid Oxide Fuel Cell (SOFC) system. Eric Fresh, Sr. Vice President of Finance and Investments, commented, "Hiring Pyrenees Investments to secure investment capital to support the working capital needs of Dominovas Energy further enhances the Company's ability to expand its efforts to meet the documented demand for increased power generation and electricity supply worldwide.
"Equally important, the capital raise, as proposed, would promote a financing structure that more appropriately supports the long-term growth prospects and objectives of Dominovas Energy. Given Dominovas Energy's elevated trading profile, evidenced by daily volume and the increased presence of institutional investors, the Company is consistently attracting an ever more knowledgeable and supportive investor base that is affording us the opportunity to secure financing through structures that typically are more often utilized for funding growth stage, pre-revenue public companies."
Mr. Fresh added, "As a company, we are quickly graduating from a typical micro-cap company's reliance on the use of potentially toxic forms of convertible debt and equity-based financing. Conversely, financing structures involving common shares with warrants align the interests of investors more closely to those of the Company."
The securities if offered in a private placement may not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws. Accordingly, if the Company chooses this route, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. In any event however, the securities will be offered only to accredited investors. Pursuant to any registration rights agreement with the investors, the Company will have to agree to file a registration statement with the SEC covering any resale of the shares of common stock, as well as any shares of common stock issuable along with any exercise of any applicable warrants within 30 days of any closing date.
