New Issue: Enpar settles C$5.2 million private placement of units

By Devika Patel

Knoxville, Tenn., Nov. 26 - Enpar Technologies Inc. said it has taken in C$5.2 million in a private placement of units. The deal priced for C$5 million on Oct. 29 with a C$1 million greenshoe and settled on Nov. 23.

The company sold 13,002,500 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, was paid an 8% cash commission and received two-year warrants exercisable for 1,300,250 common shares at C$0.50 per share. Canaccord also received 250,000 units as a corporate finance fee. Each of these units consists of one common share and one warrant that has the same terms as the warrants sold in the deal.

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$5,201,000
Units:	13,002,500
Price:	C$0.40
Warrants:	One per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.50
Agent:	Canaccord Capital Corp.
Fees:	8% in cash, warrants for 1,300,250 common shares, 250,000 units
Pricing date:	Oct. 29
Settlement date:	Nov. 23
Stock symbol:	TSX Venture: ENP
Stock price:	C$0.48 at close Oct. 29

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