On August 2, 2007, Lignol Energy Corporation announced that it had closed a brokered private placement of 11,500,000 common shares of the Company at a price of $1.25 per share for aggregate gross proceeds to Lignol of $14,375,000. Haywood Securities Inc. acted as agent for the offering. The net proceeds of the offering will be used by Lignol for developing an industrial scale commercial demonstration facility and general corporate purposes.
Lignol is a Canadian company undertaking the development of biorefineries for the production of fuel-grade ethanol and other biochemical co-products from cellulosic biomass feedstocks.
Lignol was advised in this transaction by Blair Horn and Benjamin Lee of Fasken Martineau.