On August 27, 2008, Azure Dynamics Corporation (TSX: AZD, LSE: ADC & OTCQX: AZDDF), a leading developer of hybrid electric and electric powertrains for commercial vehicles, announced that it had closed a private placement offering of 100,000,000 common shares at a price of $0.25 per common share for gross proceeds of $25 million. Raymond James Ltd. acted as agent to Azure in Canada, and Numis Securities Limited acted as agent to Azure in the United Kingdom and certain other foreign jurisdictions, in connection with the offering.

Azure Dynamics was advised in this transaction by a team from Fasken Martineau coordinated by Alfred Apps, and that included, among others, Daniel Batista, Jeff Hergott and Martin Fisher-Haydis, assisted by student-at-law Jessica Catton.