Canadian wind energy company Finavera Renewables to raise $1m through private placement

Canadian wind energy company Finavera Renewables is to raise $1.02m through a private placement of 20,040,000 units at a price of $0.05 per unit. Proceeds of the placement will be used for the development of Finavera Renewables' wind energy projects, primarily for the B.C. Peace Region projects, and for general working capital, the company said.