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| Home : EnerGulf Announces Non-Brokered Private Placement |
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Dec 10
2014 |
EnerGulf Announces Non-Brokered Private Placement |
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TORONTO, ONTARIO--(Marketwired - Dec. 9, 2014) - EnerGulf Resources Inc. (TSX VENTURE:ENG) (FRANKFURT:EKS) ("the Company") is pleased to announce a non-brokered private placement ("Private Placement") offering of Units of its publically traded securities at C$0.20 per Unit, in the total sum of C$500,000. A "Unit" is comprised of one publically traded common share (TSX VENTURE:ENG) and one warrant exercisable for one publically traded common share (TSX VENTURE:ENG). Common shares are restricted from trading for four months (and additionally as may be required per investor jurisdiction). Warrants have an exercise price of C$0.25, an 18 month term, and are restricted from exercise for four months (and additionally as may be required per investor jurisdiction). If the TSX.V price of ENG common shares closes at or above C$0.50 for 30 consecutive trading days during the term of the warrants, then EnerGulf will be entitled to accelerate the term of unexercised warrants upon notice to the holders and the warrants will then expire on the 20th day after the effective date of the giving of such notice. The company anticipates that there will be insider participation in the Offering. Closing of the proposed Private Placement is anticipated to occur on or about December 22, 2014 and will be conditional upon, among other things, the receipt of all necessary regulatory approvals (including from the TSX Venture Exchange). |
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| Source:http://www.marketwired.com/mw/release.do?id=1975551&sourceType=3 |
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