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Provider: Reuters Investment Profile
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Essex Angel Capital Inc Announces Private Placement of Units


Friday, 23 Aug 2013 03:41pm EDT 

Essex Angel Capital Inc announced a private placement (the Private Placement) of up to 10,000,000 units of the Corporation (the Units) at a price of $0.005 per Unit (the Offering Price) for gross proceeds of up to $50,000. 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 $0.05 per share for a period of 12 months from the issuance date thereof. The Corporation may issue such number of compensation warrants as is equal up to 10% of the total number of Units issued under the Private Placement and pay finder's fees of up to 10% of the gross proceeds. Completion of the Private Placement is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (TSXV). The Corporation is seeking relief with respect to the Private Placement pursuant to the bulletin of the TSXV dated April 12, 2013 - Private Placements - Extension and Modification of Temporary Relief from Certain Pricing Requirements. The Private Placement is scheduled to close no later than August 30, 2013. 

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18 Dec 2014