Financing offers 15 million units of one common share and one warrant
By Devika Patel
Knoxville, Tenn., April 22 – Encanto Potash Corp. said it will conduct a C$1.8 million private placement of units.
The company will sell 15 million units of one common share and one warrant at C$0.12 per unit, with each warrant exercisable at C$0.17 for one year. The strike price is a 21.43% premium to C$0.14, the April 21 closing share price.
Marquest Capital Markets and Secutor Capital Management Corp. will be paid a 5% finder’s fee.
Proceeds will be used for general working capital.
The potash explorer is based in Vancouver, B.C.
| Issuer: | Encanto Potash Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.8 million
|
| Units: | 15 million
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.17
|
| Pricing date: | April 22
|
| Stock symbol: | TSX Venture: EPO
|
| Stock price: | C$0.14 at close April 21
|
| Market capitalization: | C$46.24 million
|
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