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Enpar Technologies Inc Finalizes Private Placement Of CAD1,000,000


Friday, 18 Oct 2013 10:24am EDT 

Enpar Technologies Inc announced that the final approval has been granted by the TSX for a non-brokered, private placement with a Strategic Investor. The Placement is for 12,500,000 Units at a price of $0.08 per Unit. Each Unit is comprised of one Common Share in the capital stock of the Corporation and 0.45 of a Common Share Purchase Warrant exercisable for a period of two years from the date of closing. Should the Investor wish to fully exercise the Warrants, the Investor will be entitled to purchase a total of 5,625,000 additional Common Shares at price of $0.11 per share.The proceeds of this Placement will be used for marketing and manufacturing initiatives, and for general working capital. The Company will pay a commission to the Agent in the amount of CAD82,500. 

Company Quote

0.09
-0.0050 -5.26%
12:21pm EDT