By Devika Patel
Knoxville, Tenn., March 3 - Enpar Technologies Inc. said it arranged a C$1 million non-brokered private placement of units.
The company will sell 5 million units at C$0.20 apiece. Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.35 for one year.
Settlement is expected March 31.
Proceeds will be used for marketing initiatives and for general working capital.
Enpar is a water treatment company based in Guelph, Ont.
| Issuer: | Enpar Technologies Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | March 3
|
| Settlement date: | March 31
|
| Stock symbol: | TSX Venture: ENP
|
| Stock price: | C$0.22 at close March 3
|
| Market capitalization: | C$11.7 million
|
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