|
| Home : Tanager Energy Inc. Announces Private Placement |
|
May 21
2014 |
Tanager Energy Inc. Announces Private Placement |
|
CALGARY, ALBERTA--(Marketwired - May 21, 2014) - Mr. John Squarek, President and CEO, of Tanager Energy Inc. (TSX VENTURE:TAN) ("Tanager" or the "Company") announces that Tanager intends to sell 6,250,000 units (the "Units") at a price of $0.08 per Unit (the "Private Placement") by way of a non-brokered private placement to raise gross proceeds for the Corporation of $500,000. Each Unit consists of one (1) common share and one (1) common share purchase warrant. Each warrant entitles its holder thereof to purchase one additional common share in the capital of Tanager for a period expiring on May 30, 2016, at an exercise price of $0.15 per common share. As indicated in a Letter of Intent executed by the Company and Viking Investments Group, Inc. ("Viking") on May 16th, 2014, Viking intends to subscribe for 3,125,000 Units for $250,000. Insiders of the Company may subscribe for in excess of 25% of the aggregate proceeds of the Offering, constituting a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization. |
|
|
|
| Source:http://www.marketwired.com/mw/release.do?id=1912551&sourceType=3 |
| |
|
Related News
|
» Capstone Infrastructure Corporation Announces Completion of Financings
» Obama 'Will Not Tolerate' VA Misconduct
|
|
|
