|
| Home : CORRE Announces Equity Financing Ongoing |
|
Aug 22
2013 |
CORRE Announces Equity Financing Ongoing |
|
TORONTO, ONTARIO--(Marketwired - Aug. 21, 2013) - Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX VENTURE:CVR) ("CORRE" or the "Company") announces that its previously announced private placement financing of units (each an "Equity Unit"), for total proceeds of $750,000 is ongoing. To date, an aggregate of 2,037,040 Equity Units have been issued at a price of $0.135 per Equity Unit for total proceeds of $275,000. Each Equity Unit consists of one common share of CORRE (a "Common Share") and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional Common Share at a price of $0.235 for a period of 3 years from the date of issuance. All of the Common Shares and warrants issued in connection with this offering will be subject to a statutory four-month hold period in accordance with applicable securities laws. The proceeds from this financing will be used to fund the Company's obligations under its principal operating partnership, SAR-CORRE MENA, as well as to provide general working capital. |
|
|
|
| Source:http://www.marketwire.com/mw/release.do?id=1823362&sourceType=3 |
| |
|
Related News
|
» Ginguro Increases Private Placement
» Jury in Fort Hood Rampage Trial Set to Deliberate
|
|
|
