Enpar Technologies arranges $600,000 private placement
2012-12-03 13:33 ET - News Release
Dr. Gene Shelp reports
ENPAR ANNOUNCES PRIVATE PLACEMENT OF UP TO $600,000
Subject to regulatory approval and formal documentation, Enpar Technologies Inc. is offering a non-brokered private placement. Funds will be raised through the sale of units to accredited investors in the provinces of Alberta, British Columbia and Ontario.
The placement will be for six million units at a price of 10 cents per unit. Each unit will comprise one common share in the capital stock of the corporation and a two-tier full share purchase warrant. Each tier comprises one-half of a common share purchase warrant, exercisable for a period of two years from the date of closing. Two one-half Tier 1 purchase warrants will entitle the holder to purchase one additional common share at an exercise price of 15 cents per share. Two one-half Tier 2 purchase warrants will entitle the holder to purchase one additional common share at an exercise price of 20 cents per share.
The proceeds of this offering will be used for marketing and manufacturing initiatives and for general working capital.
The private placement is subject to regulatory approval by the TSX Venture Exchange.
We seek Safe Harbor.
