Offering finances working capital; David Lincoln invests C$1.5 million
By Devika Patel
Knoxville, Tenn., Oct. 24 - Enssolutions Group Inc. said it will conduct a C$2 million private placement of stock.
The company will sell 40 million common shares at C$0.05 apiece. The price per share is a 400% premium to the Oct. 23 closing share price of C$0.01. Board member David Lincoln will invest C$1.5 million.
Settlement is expected in early November.
Proceeds will be used for general working capital and inventory.
Toronto's Enssolutions provides engineered environmental solutions for mine tailings control, process dust and erosion control, granular stabilization, road construction/maintenance and stockpile sealing.
| Issuer: | Enssolutions Group Inc.
|
| Issue: | Common stock
|
| Amount: | C$2 million
|
| Shares: | 40 million
|
| Price: | C$0.05
|
| Warrants: | No
|
| Investor: | David Lincoln (for C$1.5 million)
|
| Pricing date: | Oct. 24
|
| Stock symbol: | TSX Venture: ENV
|
| Stock price: | C$0.01 at close Oct. 23
|
| Market capitalization: | C$640,170
|
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