Company offers units at C$0.05 apiece with warrants to Canada Zhoufa
By Devika Patel
Knoxville, Tenn., July 10 - Empire Industries Ltd. announced it settled a C$3 million non-brokered private placement of units with Canada Zhoufa Agricultural Holding Co. Ltd.
The company sold 60 million units of one common share and one half-share warrant at C$0.05 per unit.
Each whole five-year warrant is exercisable at C$0.05 for the first year and at C$0.10 after the first year. The strike prices are identical and a 100% premium to the July 9 closing share price of C$0.05.
The steel fabrication and installation services provider is based in Winnipeg, Man.
| Issuer: | Empire Industries Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 60 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.05 for the first year, C$0.10 after the first year
|
| Agent: | Non-brokered
|
| Investor: | Canada Zhoufa Agricultural Holding Co. Ltd.
|
| Settlement date: | July 10
|
| Stock symbol: | TSX Venture: EIL
|
| Stock price: | C$0.05 at close July 9
|
| Market capitalization: | C$8.7 million
|
© 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.
