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Shoreline Energy Corp Announces Closing Of First Tranche of the Previously Announced Brokered Private Placement

Thursday, 28 Feb 2013 08:34pm EST 

Shoreline Energy Corp announced that it has closed the first tranche of its previously announced brokered private placement financing (the Financing), resulting in gross proceeds to Shoreline of $3,961,482.00 through the issuance of 1,131,852 common shares (Common Shares) of the Corporation at a subscription price of $3.50 per Common Share. Macquarie Private Wealth Inc. (the Agent) acted as agent on the Financing. In connection with the closing of the first tranche of the Financing the Agent received a cash commission equal to 10% of the gross proceeds raised under the Financing and were also issued agent's warrants entitling the holder to purchase 45,274 Common Shares at an exercise price of $3.89 per Common Share. The Common Shares issued under the Financing are subject to a four month and one day resale and transfer restriction under applicable securities laws. The net proceeds of the Financing will be used as previously announced in the Corporation's press release dated February 12, 2013. 

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13 Aug 2014