The placement was for 3.5 million units at $0.10 per unit. Each unit will consist 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 after the closing date. A whole warrant entitles the holder to buy one additional common share at an exercise price of $0.15 per share.
ENPAR claims that the proceeds of this offering will be utilised for both marketing and manufacturing initiatives, as well as for general working capital. The private placement is subject to regulatory approval by the TSX Venture Exchange.
Read the article online at: https://www.worldfertilizer.com/materials-handling/03102017/enpar-closes-private-placement/
You might also like
Idemitsu Kosan has agreed with Mitsubishi Corporation and Proman to participate in the development of the proposed clean ammonia production project in Lake Charles, Louisiana, USA.