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| San Jacinto-Tizate Geothermal Project (Courtesy Polaris Infrastructure) |
Polaris Infrastructure Inc. of Toronto, Ontario, Canada, announced today that it has increased the size of its previously announced private placement of convertible debentures to $20,000,000. In addition, Cormark Securities Inc., Clarus Securities Inc., and a syndicate of agents will now have an option to sell an additional $5,000,000 in Convertible Debentures under the offering for total gross proceeds of $25,000,000 (if exercised in full).
As previously announced, the company intends to use the net proceeds of the offering for general corporate purposes and to provide the flexibility to pursue further corporate development opportunities in Peru and similar jurisdictions in Latin America.
Polaris Energy Nicaragua S.A (PENSA) is a subsidiary of Polaris Infrastructure Inc. PENSA operates and owns the San Jacinto-Tizate Geothermal Project, with an installed capacity of 77 MW (72 MW net).
