Claren Energy Corp. (
TSX: V.CEN,
OTCQB: CNENF,
Forum) announced it has closed the second tranche of its previously announced, non-brokered private placement. Under the terms of the offering, the Company issued a total of 15,096,500 units (the “Units”) at a price of $0.08 per Unit, for gross proceeds of $1,207,720. In total, Claren issued 25,046,500 Units for gross proceeds of $2,003,720.
Each of the Units is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at $0.15 per share, for a period of two years from the time of issuance. Further information can be found
here.
Claren Energy was recently in the news earlier this month when it announced new
drilling at the Bobucu 310 side-track well.
The Company has 31 million shares outstanding and a market cap of $3.5 million.
FULL DISCLOSURE: Claren Energy Corp. is a paid client of Stockhouse Publishing.