No problems raising money here
Does not appear to have any warrants attached...is it just a straight up PP. I see money bags kuwaiti invester-board member took most of the placement. Looking good.
Encanto Potash completes $2.7-million private placement
2013-04-02 09:57 AT - News Release
Mr. James Walchuck reports
ENCANTO COMPLETES COMMON SHARE PRIVATE PLACEMENT OF $2.7 MILLION
Encanto Potash Corp. has completed a private placement of 7.95 million common shares at a price of 34 cents per share for gross proceeds of $2,703,000. Mr. Al-Wazzan, a director of the company who has participated in $7.5-million in previous Encanto convertible debentures, purchased 7.35 million of the common shares, bringing his total investment to $10-million.
The company intends to use the proceeds to ensure the feasibility study on the Muskowekwan First Nation property, and the associated infrastructure and logistics studies are financed to remain on track for a late 2013 completion date, as well as for general working capital.
Securities issued by the company in connection with this offering are subject to a four-month hold period as prescribed by the TSX Venture Exchange and applicable securities laws.
We seek Safe Harbor.