Warrant confusionThis may be the source of the confusion...
"ST. ALBERT, AB, Dec. 20, 2013 /CNW/ - Enterprise Group, Inc. ("Enterprise," or the "Company") (TSX:E) is pleased to announce that it has closed its previously announced overnight marketed public offering (the "Offering") of subscription receipts of the Company ("Subscription Receipts") at a price of $0.72 per Subscription Receipt for aggregate gross proceeds of $15,001,200. The Offering was completed through a syndicate of underwriters led by Canaccord Genuity Corp. and including GMP Securities L.P., M Partners Inc. and PI Financial Corp.
Each Subscription Receipt entitles the holder to receive, without payment of any additional consideration, one common share of the Company ("Common Share") and one-half of one Common Share purchase warrant of the Company ("Warrant") upon the Company being in position to close the Acquisition (defined below). Each whole Warrant will entitle the holder thereof to purchase one Common Share at a price of $1.00 for a period of 24 months following closing of the Offering.
In addition, the Company has issued to the Underwriters that number of non-transferable Common Share purchase warrants ("Broker Warrants") equal to 6% of the total number of Subscription Receipts issued pursuant to the Offering. Each Broker Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.80 per share for a period of 24 months following closing of the Offering."
Which Warrants are being or have been offered?