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New Zealand Energy Corp Receives Final Receipt For Short Form Prospectus Related To $16.1 Million Private Placement


Tuesday, 19 Nov 2013 07:00am EST 

New Zealand Energy Corp announced that it has received a receipt from the British Columbia Securities Commission for the Company's short form prospectus, filed in relation to the recently completed non-brokered private placement that raised gross proceeds of $16.1 million. Shares related to the private placement will be free trading on November 21. The Company issued 48.9 million subscription receipts at a price of $0.33 per Subscription Receipt. On November 21 the Subscription Receipts will convert into units, consisting of one common share and one-half of one non-transferable share purchase warrant (each whole warrant referred to as a Warrant) of the Company. Each Warrant will entitle the holder to acquire one Share at a price of $0.45 with an expiry date of October 28, 2014. The Company also issued three million finder's special warrants, which will convert into finder's warrants on November 21, each entitling the finder to acquire one Share at a price of $0.33 with an expiry date of October 28, 2014. 

Company Quote

0.08
0.0050 +6.67%
19 Sep 2014