By Sheri Kasprzak
New York, Jan. 4 - Echo Energy Canada Inc. said it has completed a private placement for C$1,162,500.
The company sold 930,000 units at C$1.25 each
The units are comprised of one flow-through share and one warrant for 0.3 of a share. The full warrants are exercisable at C$1.25 each for one year.
Proceeds will be used for exploration on the company's properties in Ontario.
Based in Toronto, Echo is an oil and natural gas exploration company.
| Issuer: | Echo Energy Canada Inc.
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| Issue: | Units of one flow-through share and one warrant for 0.3 of a share
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| Amount: | C$1,162,500
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| Units: | 930,000
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| Price: | C$1.25
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| Warrants: | 0.3 of a share warrant per unit
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| Warrant expiration: | One year
|
| Warrant strike price: | C$1.25
|
| Settlement date: | Jan. 4
|
| Stock price: | C$0.95 at close Jan. 4
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