By Devika Patel
Knoxville, Tenn., May 27 - ONA Energy Inc. said it took in C$2.71 million in the second tranche of a C$5.89 million non-brokered private placement of units.
The deal priced April 15 for C$3.5 million. The company lifted the size to C$6 million on May 6 and took in C$3.18 million in the first tranche on May 7.
ONA sold units at C$0.60 each.
The company planned to sell up to 10 million units. It originally planned to sell 5,833,333 units.
Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.75 for one year.
Proceeds will be used for buying fuel to begin operations at the YPPC facility, as well as to pay interest on debt and for other general working capital items.
ONA is an energy company based in Vancouver, B.C.
| Issuer: | ONA Energy Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5,889,999.60
|
| Units: | 9,816,666
|
| Price: | C$0.60
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | April 15
|
| Amended: | May 6
|
| Settlement date: | May 7 (for C$3,184,800), May 26 (for C$2,705,199.60)
|
| Stock symbol: | CNQ: OEIX
|
| Stock price: | C$0.65 at close April 21
|
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