Non-brokered offering sells 20 million common shares at C$0.15 apiece
By Devika Patel
Knoxville, Tenn., Dec. 1 – Enablence Technologies Inc. said on Nov. 28 that it plans a C$3 million non-brokered private placement of stock.
The company will sell 20 million common shares at C$0.15 per share, which is a 150% premium to the Nov. 27 closing share price of C$0.06.
Settlement is expected Dec. 15.
Proceeds will be used to meet obligations, including debt repayment and working capital.
Based in Ottawa, Enablence designs and manufactures optical components.
Issuer: | Enablence Technologies Inc.
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Issue: | Common stock
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Amount: | C$3 million
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Units: | 20 million
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Price: | C$0.15
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Warrants: | No
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Agent: | Non-brokered
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Pricing date: | Nov. 28
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Settlement date: | Dec. 15
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Stock symbol: | TSX Venture: ENA
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Stock price: | C$0.06 at close Nov. 27
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Market capitalization: | C$8.21 million
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