SOPerior Fertilizer Corp. has announced it has closed a non-brokered private placement in which it has issued 3 165 000 units at US$0.065/unit for gross proceeds of US$205 725. Each unit is comprised of one common share and one half common share purchase warrant exercisable at US$0.12 for 3 years.
The proceeds from the private placement will be used to bolster the company’s treasury for the legal proceedings currently underway.
Finders fees of US$12 435.50 cash were paid in connection with the financing. In accordance with applicable securities legislation, all securities issued in the private placement are subject to a statutory hold period of four months and one day.