By Sheri Kasprzak
New York, Jan. 25 - Enterprise Oil Ltd. said it intends to raise up to C$3.08 million in a private placement of units.
The offering includes up to 2.8 million units at C$1.10 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$1.50 each for one year.
Research Capital Corp. is the placement agent.
Proceeds will be used for acquisitions and general working capital.
Based in St. Albert, Alta., Enterprise is an oil and natural gas exploration and development company.
| Issuer: | Enterprise Oil Ltd.
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| Issue: | Units of one share and one warrant
|
| Amount: | C$3.08 million (maximum)
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| Units: | 2.8 million (maximum)
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| Price: | C$1.10
|
| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.50
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| Placement agent: | Research Capital Corp.
|
| Pricing date: | Jan. 25
|
| Stock symbol: | TSX Venture: EON
|
| Stock price: | C$1.10 at close Jan. 24
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