By Devika Patel
Knoxville, Tenn., Nov. 10 - Encanto Potash Corp. said it arranged a C$1 million non-brokered private placement of units.
The company will sell 4,762,000 units at C$0.21 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.35 for two years.
Proceeds will be used for working capital.
Encanto Potash is a natural resource company based in Vancouver, B.C.
| Issuer: | Encanto Potash Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 4,762,000
|
| Price: | C$0.21
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 10
|
| Stock symbol: | TSX Venture: EPO
|
| Stock price: | C$0.235 at close Nov. 9
|
| Market capitalization: | C$24 million
|
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