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Provider: Reuters Investment Profile
$20.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00
Provider: GlobalData
$125.00

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Lignol Energy Corp Arranges $4 Million Placement-Canada Stockwatch News


Friday, 16 Nov 2012 09:41am EST 

Canada Stockwatch News reported that Lignol Energy Corp. has engaged Canaccord Genuity Corp. to sell, on a commercially reasonable efforts basis, up to 26,666,667 units of the Company at a price of 15 cents per unit for aggregate gross proceeds of up to $4-million. The offering will include Global Securities Corp. and Haywood Securities Inc. Each unit will comprise of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant will allow the subscriber to purchase one additional common share of the Company for a period of two years from the date of closing at an exercise price of 20 cents per share. The Company has granted the agent an option to offer up to an additional 6,666,667 units of the Company, at the issue price, for additional gross proceeds of up to $1-million, exercisable in whole or in part at any time up to 48 hours prior to the closing date of the offering. Upon closing of the offering, Wasabi Energy Ltd. has agreed to convert the convertible debenture it currently holds which will result in the issuance of 14,971,800 common shares of the Company at an exercise price of 15 cents per share. Lignol Energy Corp intends to use the net proceeds from the offering to finance general working capital and other corporate purposes. The offering is expected to close on or about December 7, 2012. The units issued upon the closing of the offering will be subject to a four-month hold period. 

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22 Jul 2014