Published on 2/20/2007 in the Prospect News PIPE Daily.
New Issue: Energem Resources prices C$14.1 million placement of units
By Laura Lutz
Washington, Feb. 20 - Energem Resources Inc. announced plans for a private placement of units for C$14,095,200.
The company intends to sell up to 18,793,600 units of one share and one warrant at C$0.75 per unit. Each warrant will be exercisable at C$1.00 for two years.
Proceeds will be used for working capital and general corporate purposes.
Energem is a natural resources company based in Vancouver, B.C.
Issuer: | Energem Resources Inc.
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Issue: | Units of one share and one warrant
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Amount: | C$14,095,200
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Units: | 18,793,600
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Price: | C$0.75
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Warrants: | One per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$1.00
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Pricing date: | Feb. 20
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Stock symbol: | Toronto: ENM
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Stock price: | C$0.66 at close Feb. 20
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