Share Name Share Symbol Market Type
Stone Gold Inc TSXV:STG TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.025 -21.74% 0.09 0.08 0.105 0.09 0.09 0.09 30,177 15:58:27

Sustainable Energy Confirms Closing of $500,000 Investment by Private Investor

18/04/2013 12:32am

Marketwired Canada

Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or
the "Company") confirms that it has completed the previously announced (News
Release: April 15, 2013) private placement of 50,000 Units for gross proceeds of

Each Unit consists of one (1) $10, 8% 5-year Convertible First Preferred Share,
Series 15 (Preferred Shares) and 12, 1-year common share purchase warrants
(Warrants). The Preferred Shares are convertible at the option of the holder
into common shares of the Company at a price of $0.12 per share. The Warrants
entitle the holder to acquire one common share at a price of $0.12 per share.
The Company intends to use the proceeds of this financing to increase working
capital reserves for operations.  

Immediately preceding the closing of the private placement, Doughty Hanson
Technology Ventures elected to convert a $500,000 Convertible Debenture (News
Releases: March 25, 2013; and March 15, 2013) into 50,000 $10, 8% 5 year
Convertible First Preferred Shares, Series 14, exercisable into 4,750,000 common
shares of the Company. 

The securities issued under the offering (including the Preferred Shares and
Warrants) are all subject to a hold period under applicable Canadian securities
laws and stock exchange regulations, which will expire on August 17, 2013. 

As of closing of the first tranche of this private placement, the Company has
20,915,581 common shares and 1,126,587 First Preferred Shares, convertible into
17,106,649 common shares, issued and outstanding. 

The Units were purchased by Mr. Owen McCreery for investment purposes. Mr.
McCreery has ownership and control of 375,000 common shares and 50,000 Preferred
Shares convertible into a maximum of 4,150,000 common shares of the Company,
representing approximately 11.9% of votes eligible to be cast at a meeting of
shareholders of the Company. For a copy of the early warning report to be filed
in respect of this transaction, please refer to the SEDAR profile of the

About Sustainable Energy 

Sustainable Energy (www.SustainableEnergy.com) designs and manufactures advanced
power electronics for distributed smart grid and micro-grid applications.
Advanced power electronics are a critical interface between all distributed
generation and storage systems devices, ensuring the delivery of high quality
alternating current (AC) to the power grid as well as providing utility control
over the interconnection and power quality.  

Sustainable Energy has designed a simple low cost platform that is software
configurable for a wide range of low voltage cellular generation and storage
technologies, including solar PV, fuel cells and all the emerging battery

The Company's platform is based on breakthroughs in power conversion technology
that enable its platform to convert high current/low voltage DC into high
quality AC with conversion efficiencies that are materially higher than anything
in the market with an inherently lower cost structure.  

Forward Looking Information 

The reader is advised that some of the information herein may constitute
forward-looking statements within the meaning assigned by National Instruments
51-102 and other relevant securities legislation. In particular, we include
statements concerning the efficiency and cost advantages of our energy storage

Forward-looking information is not a guarantee of future performance and
involves a number of risks and uncertainties. Many factors could cause the
Company's actual results, performance or achievements, or future events or
developments, to differ materially from those expressed or implied by the
forward-looking information. Readers are cautioned not to place undue reliance
on forward-looking information, which speaks only as of the date hereof. 

Readers are also directed to the Risk Factors section of the Company's current
Annual Information Form which may be found on its website or at www.sedar.com
The Company does not undertake any obligation to release publicly any revisions
to forward-looking information contained herein to reflect events or
circumstances that occur after the date hereof or to reflect the occurrence of
unanticipated events, except as may be required under applicable securities

Sustainable Energy Technologies Ltd
Michael Carten
Chief Executive Officer
403.508.7177 #111

1 Year Stone Gold Chart

1 Year Stone Gold Chart

1 Month Stone Gold Chart

1 Month Stone Gold Chart
ADVFN Advertorial
Your Recent History
Stone Gold
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20220125 17:26:40