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| Home : CORRE Secures $750,000 Financing at $0.15 and Secures $1,125,000 for SAR-CORRE MENA's 2013 Operating Budget |
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Apr 17
2013 |
CORRE Secures $750,000 Financing at $0.15 and Secures $1,125,000 for SAR-CORRE MENA's 2013 Operating Budget |
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TORONTO, ONTARIO--(Marketwired - April 17, 2013) - Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX VENTURE:CVR) ("CORRE" or the "Company") is pleased to announce the Company has secured commitments for a private placement financing of units (each an "Equity Unit"), which will result in total proceeds of $750,000. Investors under the equity financing will be issued 5,000,000 Equity Units at a price of $0.15 per Equity Unit, with each Equity Unit consisting of one common share of CORRE (a "Common Share") and one-half of one common share purchase warrant. Each whole warrant issued from the equity financing will entitle the holder to acquire one additional Common Share at a price of $0.25 for a period of 3 years from closing. All of the Common Shares and warrants issued in connection with this financing are subject to a statutory four-month hold period in accordance with applicable securities laws. |
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| Source:http://www.marketwire.com/mw/release.do?id=1779804&sourceType=3 |
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