Deal funds general working capital; David Lincoln to invest C$575,000
By Devika Patel
Knoxville, Tenn., July 3 - Enssolutions Group Inc. said it will conduct a C$1.6 million private placement of stock.
The company will sell 32 million common shares at C$0.05 apiece. The price per share is a 66.67% premium to the July 2 closing share price of C$0.03. David Lincoln will invest C$575,000.
Settlement is expected in early August.
Proceeds will be used for general working capital and inventory.
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: | Common stock
|
| Amount: | C$1.6 million
|
| Shares: | 32 million
|
| Price: | C$0.05
|
| Warrants: | No
|
| Investor: | David Lincoln (for C$575,000)
|
| Pricing date: | July 3
|
| Stock symbol: | TSX Venture: ENV
|
| Stock price: | C$0.03 at close July 2
|
| Market capitalization: | C$1.31 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.
