ENP.V closes PP
Enpar closes $100,000 private placement
2014-01-20 13:51 ET - News Release
Dr. Gene Shelp reports
ENPAR ANNOUNCES CLOSING OF PRIVATE PLACEMENT GRANTS OF STOCK OPTIONS
Enpar Technologies Inc. closed a non-brokered private placement to accredited investors on Jan. 17, 2014. The gross proceeds of $100,000 representing a total of one million common shares were priced at 10 cents per share and are subject to a hold period of four months from the date of closing.
The placement was for one million units at a price of 10 cents per unit. Each unit comprises one common share in the capital stock of the corporation and half of a common share purchase warrant exercisable for a period of two years from the date of closing. Should the investors wish to fully exercise the warrants, the investors will be entitled to purchase a total of 500,000 additional common shares at price of 15 cents per share.
A maximum of 7-per-cent commission was paid to agents. The proceeds of this placement will be used for marketing and manufacturing initiatives, and for general working capital.
The private placement and grant of stock options are subject to regulatory approval by the TSX Venture Exchange.
We seek Safe Harbor.
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