Non-brokered deal consists of 4.2 million units sold at C$0.25 apiece
By Devika Patel
Knoxville, Tenn., Feb. 12 - Enterprise Group, Inc. said it plans a C$1.05 million non-brokered private placement of units.
The company will sell 4.2 million units of one common share and one warrant at C$0.25 per unit, with each six-month warrant exercisable at C$0.35. The strike price is a 20.46% discount to the Feb. 11 closing share price of C$0.44.
Proceeds will be used for working capital and capital expenditures associated with the purchase of new equipment.
The construction services company is based in St. Albert, Alta.
| Issuer: | Enterprise Group, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.05 million
|
| Units: | 4.2 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Six months
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 12
|
| Stock symbol: | Toronto: E
|
| Stock price: | C$0.44 at close Feb. 11
|
| Market capitalization: | C$24.41 million
|
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