ENPAR offers non-brokered private placement
ENPAR Technologies Inc. has released a statement announcing that, subject to regulatory approval and formal documentation, it is offering a non-brokered, private placement.
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ENPAR offers non-brokered private placement
ENPAR Technologies Inc. has released a statement announcing that, subject to regulatory approval and formal documentation, it is offering a non-brokered, private placement.
The company claims that the placement will be for 3.5 million units at $0.10 per unit. Each of these units will be comprised of one common share in the capital stock of the corporation and a one-half share purchase warrant, which is exercisable for a two-year period from the closing date. Two purchase warrants will entitle the holder to buy one additional common share at an exercise price of $0.15 per share.
ENPAR claims that the proceeds of the offering will be used for both marketing and manufacturing purposes, as well as for general working capital. The private placement is subject to regulatory approval by the TSX Venture Exchange.