Waste-to-energy developer sells shares to Kodiak until Dec. 31, 2015
By Devika Patel
Knoxville, Tenn., Oct. 27 – Cirque Energy Inc. said it arranged a $5 million common stock purchase agreement with Kodiak Capital Group, LLC on Oct. 20. The agreement ends on Dec. 31, 2015.
The shares will be sold at a price equal to 75% of the lowest closing bid price of the stock in the five trading days following a put notice.
Kodiak also received 256,410 shares and a $15,000 document preparation fee.
Proceeds will be used to develop and commercialize projects, retire debt and explore acquisitions.
Based in Detroit, the sustainable energy development company offers waste-to-energy technology and products.
| Issuer: | Cirque Energy Inc.
|
| Issue: | Common stock purchase agreement
|
| Amount: | $5 million
|
| Tenor: | Dec. 31, 2015
|
| Price: | 75% of the lowest closing bid price of the stock in the five trading days following a put notice
|
| Warrants: | No
|
| Investor: | Kodiak Capital Group, LLC
|
| Pricing date: | Oct. 20
|
| Stock symbol: | OTCBB: EWRL
|
| Stock price: | $1.50 at close Oct. 19
|
| Market capitalization: | $32.99 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.
