Plutonic Power Corporation Announces Closing of $70.35 Million Bought Deal

Plutonic Power Corporation announce the closing of its recently-announced bought deal financing, raising gross proceeds of $70,350,000 by the sale of 21,000,000 Common Shares at a price of $3.35 per share. The financing was underwritten by a syndicate of underwriters co-led by Cormark Securities Inc., GMP Securities L.P. and Macquarie Capital Markets Canada Ltd., and including Scotia Capital Inc., Toll Cross Securities Inc., Canaccord Capital Corporation, M Partners Inc., PI Financial Corp., Salman Partners Inc. and Versant Partners Inc.

The net proceeds of the offering will be used to satisfy previous commitments made with respect to the Toba Montrose project transmission line, financing the planned acquisition of the Dokie Ridge Wind Project as well as for general corporate purposes.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.