I guess we can't finance our needs via debt and we are back to selling shares. Selling shares at 7.5 cents with a 4 month hold. Getting tired of this! How much longer before we see some net profits from our currents units start being invested in to new Big Heat rigs? I don't even know why the bid price is where it is at right now.
October 3, 2013 - Intercept Energy Services Inc. (formerly Global Green Matrix Corp.) (the "Company") - TSX Venture: IES announces that it has closed on the first tranche of a non- brokered private placement for proceeds of up to $1.5 million. The offering consists of common shares in the Company offered at a price of $0.075 per share. The Company has received gross proceeds of $598,750 for the purchase of 7,983,333 to date.
The shares will be subject to a four month hold period from the date of closing. On receiving approval the Company may also pay a finder's fees of up to $58,750 cash to qualified finders.
The closing of the first tranche of the private placement is subject to approval by the TSX Venture Exchange.
The Company will proceed with the balance of the offering being $901,250, and intends to use the proceeds from the placement to fund the Company's expenditure on purchasing new frack water heating units used in the work performed by its subsidiary Intercept Rentals, the balance to be used for general working capital.