PORTLAND, Ore. -- Microfield Group, Inc. (OTCBB:MICG), an innovator and leader in the demand response marketplace, announced today that it has raised $3.6 million through a private placement.
The Company issued approximately 9 million shares of common stock at $0.40 per share and 4.5 million warrants with an exercise price of $0.60 per share.
Randy Reed, Chief Financial Officer, noted, "This financing is anticipated to be sufficient for all cash needs of the company through 2008. This has been a difficult environment in which to raise funds, so we have chosen to limit the raise, while still funding growth in 2008 as planned."
About Microfield Group, Inc.
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