Proceeds to be used for general corporate purposes and working capital
By Devika Patel
Knoxville, Tenn., Dec. 23 - Enpar Technologies Inc. said it settled a non-brokered private placement of units. The deal raised C$1.14 million.
The company sold 5,712,500 units at C$0.20 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.30 for two years.
The strike price reflects a 57.89% premium to the Dec. 22 closing share price of C$0.19.
Proceeds will be used for general corporate purposes and working capital.
Enpar is a water treatment company based in Guelph, Ont.
| Issuer: | Enpar Technologies Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,142,500
|
| Units: | 5,712,500
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 23
|
| Stock symbol: | TSX Venture: ENP
|
| Stock price: | C$0.19 at close Dec. 23
|
| Market capitalization: | C$11.13 million
|
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