Berkley Renewables Inc. (DB:W8O1) announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 500,000 on August 1, 2012. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of CAD 0.20 per share for a period of two years following the close of the transaction.

On September 18, 2012, Berkley Renewables Inc. closed the transaction. The company issued 5,115,000 units for gross proceeds of CAD 511,500.