By Sheri Kasprzak
New York, Nov. 10 - Enterprise Oil Ltd. said it has priced a C$1 million private placement.
The deal includes up to 2 million units at C$0.50 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.75 each for one year.
Proceeds will be used for working capital.
Based in Edmonton, Alta., Enterprise is an oil and natural gas exploration company.
Issuer: | Enterprise Oil Ltd.
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Issue: | Units of one share and one warrant
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Amount: | C$1 million (maximum)
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Units: | 2 million (maximum)
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Price: | C$0.50
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Warrants: | One warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.75
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Pricing date: | Nov. 10
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Stock price: | C$0.51 at close Nov. 10
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