By Laura Lutz
Des Moines, Oct. 29 - Enpar Technologies Inc. negotiated a private placement of units for up to C$5 million.
The company plans to sell 12.5 million units of one share and one transferable warrant at C$0.40 per unit. Each unit will be exercisable at C$0.50 for two years.
Canaccord Capital Corp., the agent, has a greenshoe for up to 2.5 million additional units.
Proceeds will be used for working capital.
Enpar is a water-treatment company based in Guelph, Ont.
| Issuer: | Enpar Technologies Inc.
|
| Issue: | Units of one share and one transferable warrant
|
| Amount: | C$5 million
|
| Units: | 12.5 million
|
| Greenshoe: | For 2.5 million units
|
| Price: | C$0.40
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Agent: | Canaccord Capital Corp.
|
| Pricing date: | Oct. 29
|
| Stock symbol: | TSX Venture: ENP
|
| Stock price: | C$0.48 at close Oct. 29
|
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