03:51 PM EST - U.S. Geothermal Inc. : announced that it has entered into a securities purchase agreement with several institutional investors, pursuant to it will issue about 8.21 million shares of common stock at a price of $1.05 per share for gross proceeds of about $8.6 million. Under the terms of the private placement, each Investor will also be issued a common share purchase warrant exercisable for 50% of the number of shares of common stock purchased by the investor. Each Warrant is exercisable at $1.25 per share for a period of five years beginning six months after the closing of the private placement. U.S. Geothermal Inc.
shares T.GTH are trading down $0.17 at $1.07.
