Deal consists of two types of units with 18-month attached warrants
By Devika Patel
Knoxville, Tenn., Dec. 2 - Encanto Potash Corp. said it plans a C$1.76 million non-brokered private placement of units.
The company will sell 3,294,706 non-flow-through units of one common share and one half-share warrant at C$0.17 per unit and 6 million flow-through units of one flow-through common share and one half-share warrant at C$0.20 per unit.
The whole warrants are each exercisable at C$0.30 for 18 months. The strike price is a 66.67% premium to the Nov. 29 closing share price of C$0.18.
Secutor Capital Management Corp. will be paid a finder's fee.
Proceeds will be used for exploration and general working capital.
Encanto Potash is a natural resource company based in Vancouver, B.C.
| Issuer: | Encanto Potash Corp.
|
| Issue: | Non-flow-through units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant.
|
| Amount: | C$1,760,100
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 2
|
| Stock symbol: | TSX Venture: EP0
|
| Stock price: | C$0.18 at close Nov. 29
|
| Market capitalization: | C$50.35 million
|
|
|
| Non-flow-through units
|
| Amount: | C$560,100
|
| Units: | 3,294,706
|
| Price: | C$0.17
|
|
|
| Flow-through units
|
| Amount: | C$1.2 million
|
| Units: | 6 million
|
| Price: | C$0.20
|
© 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.
