By Devika Patel
Knoxville, Tenn., June 17 - Enssolutions Group Inc. announced it has negotiated a private placement of units for between C$1.5 million and C$2 million.
The company will sell between 15 million and 20 million units at C$0.10 each. The units each consist of one common share and one warrant, with each warrant exercisable at C$0.25 for 18 months.
Settlement is expected June 30.
Proceeds will be used to support the company's capital expenditure program and for working capital and general corporate services.
Toronto's Enssolutions provides engineered environmental solutions for mine tailings control, process dust and erosion control, granular stabilization, road construction/maintenance and stockpile sealing.
| Issuer: | Enssolutions Group Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million (minimum), C$2 million (maximum)
|
| Units: | 15 million (minimum), 20 million (maximum)
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Pricing date: | June 17
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: ENV
|
| Stock price: | C$0.045 at close June 16
|
| Market capitalization: | C$1.63 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
