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Essex Angel Capital Inc Announces Private Placement Of Units-DJ

Wednesday, 13 Feb 2013 07:18pm EST 

Dow Jones reported that Essex Angel Capital Inc announced a non-brokered private placement (the Private Placement) of up to 4,000,000 units of the Corporation (the Units) at a price of $0.05 per Unit for gross proceeds of up to $200,000. Each Unit is comprised of one common share in the capital of the Corporation (a Common Share) and one Common Share purchase warrant (a Warrant). Each Warrant entitles the holder thereof to purchase one Common Share (a Warrant Share) at a price of $0.10 per share for a period of 18 months from the issuance date thereof. The Common Shares, the warrants and, upon the exercise of the Warrants, the Warrant Shares will be subject to a four month hold period in accordance with applicable Canadian securities laws. The Corporation is also pleased to announce that it has received subscriptions for 2,000,000 Units for gross proceeds of $100,000 (the First Tranche). The First Tranche is scheduled to close forthwith following receipt of TSXV approval. The second tranche of the Private Placement is scheduled to close on or about March 13, 2013. 

Company Quote

16 Jan 2015