By Sheri Kasprzak
New York, Aug. 31 - Eden Energy Corp. said it has closed a private placement of convertible promissory notes for $9,075,000.
The 6% notes mature on Aug. 25, 2008 and are convertible into common shares at $5.00 each.
The purchasers of the notes include RAB Special Situations Master Fund Ltd.; Cranshire Capital LP; Douglas Campbell Jr.; SDS Capital Group SPC, Ltd.; Nite Capital LP; Omicron Master Trust; Capital Ventures International; Crestview Capital Master, LLC; Double U Master Fund LP; Iroquois Master Fund Ltd.; JGB Capital LP; Enable Growth Partners LP and Enable Opportunity Partners LP.
The investors also received warrants for 907,500 shares, exercisable at $6.00 each for three years.
The investors have the option to increase their investment by up to 30% for 180 days from closing.
H.C. Wainwright & Co., Inc. was the placement agent.
Proceeds from the deal will be used for development of the company's projects in Nevada and for working capital.
Based in Vancouver, B.C., Eden is an oil and natural gas exploration company.
| Issuer: | Eden Energy Corp.
|
| Issue: | Convertible promissory notes
|
| Amount: | $9,075,000
|
| Maturity: | Three years
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Conversion price: | $5.00
|
| Warrant: | For 907,500 shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $6.00
|
| Investors: | RAB Special Situations Master Fund Ltd.; Cranshire Capital LP; Douglas Campbell Jr.; SDS Capital Group SPC, Ltd.; Nite Capital LP; Omicron Master Trust; Capital Ventures International; Crestview Capital Master, LLC; Double U Master Fund LP; Iroquois Master Fund Ltd.; JGB Capital LP; Enable Growth Partners LP and Enable Opportunity Partners LP
|
| Placement agent: | H.C. Wainwright & Co., Inc.
|
| Settlement date: | Aug. 25
|
| Stock price: | $6.90 at close Aug. 25
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
