Polaris pulls in $10 million

TORONTO – Renewable energy company Polaris Geothermal Inc. raises US$10 million in a private placement of 26,533,334 share units. The company says it will use the proceeds for such expenses as acquiring geothermal properties, equipment, and paying interest owed to holders of debentures issued in April 2008. Polaris’s is currently focused on providing renewable energy primarily in Latin America.

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