Methes Energies International Ltd. (NasdaqCM:MEIL) announced a private placement of 1,081,160 units at $2 per unit for gross proceeds of $2,162,320 to accredited investors on December 20, 2013. Each unit will comprise of one common share and one 5-year common stock purchase warrant to purchase one share of common stock at an exercise price of $4 per share. The company will issue securities pursuant to exemption provided under Regulation D. John C. Hui of Morse, Zelnick, Rose & Lander LLP will act as legal advisor to the company.

On the same date, the company issued 522,500 units for proceeds of $1,045,000 in funding.

On December 26, 2013, the company closed the second tranche of the transaction. The company issued 1,100,000 units to certain institutional and accredited investors. EViewTrade Securities acted as lead placement agent and Newbridge Securities Inc. acted as co-placement agent in the transaction. The company has received $3,245,000 till date in the transaction.