EarthFirst Canada Inc. (TSX:EF) a Victoria-based wind energy firm, has completed a $140 million initial public offering of units on the TSX.
According to the company, net proceeds from the IPO will fund the initial construction of its 1,000-megawatt Dokie I Project located 150 kilometres southwest of Fort St. John, B.C., and other wind power projects under development.
The company has 10 projects under development across Canada with a cumulative capacity 2,600 megawatts of electricity.
The IPO consisted of units made up of one common share and one purchase warrant valued at $2.25 per unit and flow-through shares valued at $2.60 per share. The underwriters to the IPO have an option to acquire up to 15% of the common shares offered by January 10.