By Laura Lutz
Des Moines, March 21 - Enterprise Oil Ltd. priced its previously announced C$10 million private placement of units.
The company plans to sell units of one share and one half-share warrant at C$0.75 per unit. Each whole warrant will be exercisable at C$1.00 for 15 months.
Paradigm Capital Inc. will act as agent.
Settlement is expected on March 29. The deal was announced on March 1.
Proceeds will be used to acquire a directional-boring company, for other acquisitions and for general corporate purposes.
Enterprise is a construction services company based in St. Albert, Alta.
| Issuer: | Enterprise Oil Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$10 million
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 15 months
|
| Warrant strike price: | C$1.00
|
| Agent: | Paradigm Capital Inc.
|
| Announcement date: | March 1
|
| Pricing date: | March 21
|
| Settlement date: | March 29
|
| Stock symbol: | TSX Venture: EON
|
| Stock price: | C$0.83 at close March 20
|
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