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| Home : Canadian Oilfield Solutions Corp.: Closing of Private Placements- $2,588,550.00 |
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Nov 09
2012 |
Canadian Oilfield Solutions Corp.: Closing of Private Placements- $2,588,550.00 |
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CALGARY, ALBERTA--(Marketwire - Nov. 9, 2012) - Canadian Oilfield Solutions Corp. (the "Corporation") (TSX VENTURE:OTS) is pleased to announce that it has completed its previously announce brokered private placement of units ("Units") with Wolverton Securities Ltd. (the "Agent") for gross aggregate proceeds of $2,499,900. The Corporation issued an aggregate of 16,666,000 Units at an issuance price of $0.15, with each Unit consisting of one (1) common share ("Common Share") of the Corporation and one-half of one non-transferable share purchase warrant ("Warrant"). Each whole Warrant entitles the holders thereof to purchase one (1) additional Common Share for $0.25 for a period of 36 months. In connection with the brokered private placement, the Corporation paid the Agent a 6% cash commission, a corporate finance fee and also issued an agent's option ("Agent's Option") to purchase an aggregate of 1,666,600 Units representing 10% of the number of Units issued under the brokered private placement. The Agent's Option has an exercise price of $0.15 and otherwise has identical terms as the terms of the Units. |
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| Source:http://www.marketwire.com/mw/release.do?id=1723984&sourceType=3 |
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