Offering sells units of a share and a half-share warrant at C$0.0525
By Devika Patel
Knoxville, Tenn., Nov. 24 – Enablence Technologies Inc. said it raised about C$1.93 million in the first tranche of a C$2 million non-brokered private placement of units. The deal priced on Nov. 12.
The company is selling units of one common share and a half-share warrant at C$0.0525 per unit.
The whole warrants will each be exercisable at C$0.07 for 18 months. The strike price is a 16.67% premium to the Nov. 11 closing share price of C$0.06.
Proceeds will be used for general working capital purposes.
Based in Ottawa, Enablence designs and manufactures optical components.
| Issuer: | Enablence Technologies Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Price: | C$0.0525
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.07
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 24 (for about C$1.93 million)
|
| Stock symbol: | TSX Venture: ENA
|
| Stock price: | C$0.06 at close Nov. 11
|
| Market capitalization: | C$17.62 million
|
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