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Enterprise Group Inc Announces Private Placement of Units


Tuesday, 12 Feb 2013 07:04pm EST 

Enterprise Group Inc announced that it has closed a non-brokered private placement of 4,200,000 units of the Company at a price of $0.25 per Unit for aggregate gross proceeds of $1,050,000. Each Unit is comprised of one common share in the capital of the Company and one Common Share purchase warrant. Each whole Warrant entitles the holder to acquire one Common Share at an exercise price of $0.35 for a period of six months from the closing of the Offering. After giving effect to the Offering, the Company has a total of 60,966,697 Common Shares issued and outstanding. The proceeds from the Offering will be used for working capital and capital expenditures associated with the purchase of new equipment. All of the securities issued pursuant to the Offering are subject to a four month hold period from the date of issue. 

Company Quote

0.9
-0.01 -1.10%
11:29am EDT