Apollo Solar Energy Enters Definitive Agreement for Private Placement to Results in Aggregate Proceeds of $9,000,000
Ft Lauderdale, Florida 11/25/2009 01:50 AM GMT (TransWorldNews)
Apollo Solar Energy, Inc. (OTC.BB: ASOE) has entered a definitive agreement for the private placement of securities to certain accredited investors. The private placement is expected to results in net proceeds of $9,000,000 at the closing, before payment of placement agent commissions and other expenses. The company will sell the shares of their common stock at a purchase price per share of $1.00 for aggregate gross proceeds to the company of $9,000,000. The company plans to utilize the proceeds from the private placement to increase their tellurium production and for general corporate purposes.
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About Apollo Solar Energy, Inc.
Apollo Solar Energy, Inc., through its wholly owned subsidiary, Sichuan Apollo Solar Science & Technology Co., Ltd., is primarily engaged in the mining and refining of tellurium (Te) and high-purity tellurium based metals for specific segments of the global electronic materials market. The Company's products include CdTe thin-film compounds, CIGS thin-film compounds, ultra-high purity metals, and commercial-purity metals.
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