Deal now to sell 17 million units of one common share and one warrant
By Devika Patel
Knoxville, Tenn., April 24 – Encanto Potash Corp. said it increased its private placement of units to C$2.04 million from C$1.8 million. The deal priced on Wednesday.
The company will now sell 17 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$2.04 million
|
| Units: | 17 million
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.17
|
| Pricing date: | April 22
|
| Upsized: | April 24
|
| Stock symbol: | TSX Venture: EPO
|
| Stock price: | C$0.14 at close April 21
|
| Market capitalization: | C$37.98 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.
