BURNABY, BRITISH COLUMBIA -- (Marketwire) -- 12/29/11 -- Day4 Energy Inc. (TSX: DFE), a leading global provider of solar photovoltaic (PV) products and solutions, today announced the closing of the second and final tranche of its private placement of common shares announced November 14, 2011.
The second tranche of the private placement consisted of the sale of 6,320,287 common shares to Wangs Brother Motor Company Ltd. at a price of approximately $0.17 per share for gross proceeds of $1,066,864. A total of 11,349,125 common shares were sold to Wangs Brother Motor Company Ltd. pursuant to the private placement for total gross proceeds of $1,915,732. Following completion of the second tranche, Wangs Brother Motor Company Ltd. holds 11,349,125 common shares of Day4 Energy Inc. ("Day4 Energy"), representing approximately 19.9% of the issued and outstanding common shares. The net proceeds of the second tranche of the private placement will be used for general corporate purposes. The shares issued pursuant to the second tranche of the private placement are subject to a four month hold period expiring on April, 30, 2012.
About Day4 Energy
Day4 Energy is a Canadian company dedicated to providing high performance PV solutions for residential, commercial and utility scale installations. By fundamentally improving on the design and assembly of solar cells and modules, Day4 Energy produces unique PV panels of high power density, increased lifetime and uncompromised aesthetic appearance. Day4 Energy partners with international technology leaders to develop and deliver IEC- and UL-certified solar products to customers around the world. Day4 Energy is listed on the Toronto Stock Exchange under the symbol "DFE". For more information, please visit www.day4energy.com.
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