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Enterprise Group Inc Announces Private Placement of Common Shares


Thursday, 25 Apr 2013 07:00am EDT 

Enterprise Group Inc announced that it has entered into an agreement with a syndicate of agents lead by M Partners Inc and including Beacon Securities Inc. to act as agents in respect of a best efforts private placement offering of up to 12,500,000 common shares of the Company for gross proceeds of up to $6,000,000. Each common share will be issued at a price of $0.48. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the Closing Date. The net proceeds of the Offering will be used for capital expenditures related to Artic Therm International Ltd., acquisition and integration costs associated with the transaction announced February 28, 2013 in the event of completion of that transaction, and for general working capital purposes. The closing of the Offering is expected to occur on or about May 7, 2013. On the Closing Date the Agents will receive, a cash commission equal to 6% of the gross proceeds of the Offering. 

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