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ENTREC Corp Closes $32.7 Million Bought Deal Equity


Wednesday, 6 Feb 2013 08:56am EST 

ENTREC Corp announced that it has closed previously announced bought deal equity financing with a syndicate of underwriters co-led by Cormark Securities Inc. and Clarus Securities Inc. (collectively, the Underwriters). Pursuant to the Offering, the Underwriters purchased 18,672,000 common shares (Common Shares) of the Company, including 1,529,000 Common Shares pursuant to the partial exercise of the over-allotment option granted to the Underwriters pursuant to the Offering, at a price of $1.75 per Common Share, for gross proceeds of $32,676,000. The Offering was made by way of a short form prospectus dated January 30, 2013 filed by ENTREC with the securities commissions and other similar regulatory authorities in each of the provinces of Canada, except Quebec. ENTREC intends to use the net proceeds of the Offering to fund future capital expenditures and, if necessary, for potential future business acquisitions, working capital and general corporate purposes. 

Company Quote

1.26
-0.01 -0.79%
17 Apr 2014