March 15 (Reuters) - Electrovaya Inc EFL.TO
* Electrovaya announces proposed private placement of convertible debentures
* Electrovaya Inc says to complete a non-brokered private placement of convertible unsecured subordinated debentures for gross proceeds of up to $25 million
* Electrovaya Inc - debentures will have a term to maturity of 36 months and bear interest at a rate of 9 pct per annum, payable semi-annually
* Electrovaya Inc - net proceeds of sale of debentures will be used for working capital to fulfill purchase orders, and for general corporate purposes Source text for Eikon: ID:nCCN2bX26L Further company coverage: EFL.TO