PwrCor, Inc. announced that it has received $0.35 million in funding
October 02, 2018
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PwrCor, Inc. (OTCPK:PWCO) announced that it has entered into a subscription agreement for a best efforts private placement of 2,500,000 units at $0.14 per unit for gross proceeds of $350,000 to three accredited investors on October 3, 2018. Each unit consists of one restricted $0.001 par value common share and one redeemable class B warrant. Each warrant entitles the holder to purchase one-half common share at a price of $0.40 per share. The warrants may be redeemed, in whole or in part, at least twenty days prior written notice, at a price of $.001 per share, provided either completion of an underwritten public offering or the average closing bid price of the common stock is at or above $1.50 per share for at least twenty consecutive trading days ending with three business days prior to the redemption notice. No placement agent fees and no commissions were paid in the transaction. The units issued are subject to a hold period of six months from the date of closing. The company issued securities pursuant to exemption provided under Rule 506 of Regulation D. The minimum investment accepted from any outside investor is $50,000. The transaction involved participation from 3 investors.
PwrCor, Inc. (PwrCor) is a cleantech energy technology company. The Company is developing advanced, novel solutions in the waste-heat-to-energy, geothermal, clean water, hydrogen production, and other markets. With its heat conversion technology, it is able to produce cost-effective mechanical or electric power from wasted heat-from low-grade heat in the 250 to 400 F range down to ultra-low temperatures in the 140 to 250 F range. PwrCor technology can be used to convert low levels of heat from any source, including industrial, geothermal, or solar, into sufficient mechanical power to drive reverse osmosis equipment wherever there is access to water, including sea water, without even having to produce electricity. PwrCor technology is also positioned to facilitate the Energy Transition initiative by creating power from heat generated in the production of Hydrogen and Ammonia, as well as from fuel cells, thereby reducing cost of operations.
PWRCOR, INC. 
