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CANASIA ENERGY ANNOUNCES CLOSING OF FIRST TRANCHE OF ITS PREVIOUSLY ANNOUNCED BROKERED FINANCING FOR $5,042,000
CANASIA ENERGY ANNOUNCES CLOSING OF FIRST TRANCHE OF ITS PREVIOUSLY ANNOUNCED BROKERED FINANCING ...
About this update from Canasia Energy Corp
[{"type":"text","content":"\n \n \n \n CANASIA ENERGY ANNOUNCES CLOSING OF FIRST TRANCHE OF ITS PREVIOUSLY ANNOUNCED BROKERED FINANCING FOR $5,042,000\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Dec. 21, 2023\n \n \n CanAsia Energy Corp. (\"\n \n CanAsia\n \n \" or the \"\n \n Company\n \n \") (TSXV: CEC) is pleased to announce the closing of the first tranche (\"\n \n First Tranche\n \n \") of its brokered private placement offering previously announced on\n \n December 4\n \n and 13, 2023 (\"\n \n Offering\n \n \"). 50,420,000 common shares of the Company (\"\n \n Shares\n \n \") were issued today at an issue price of CAD $0.10 per Share for aggregate gross proceeds of CAD\n \n $5,042,000\n \n . A second and final tranche of the Offering for additional gross proceeds of CAD\n \n $1,258,000\n \n is expected to occur in the first part of\n \n January 2024\n \n once certain regulatory approvals have been received. The Offering is being led by Research Capital Corporation as the sole agent and sole bookrunner (the \"\n \n Agent\n \n \").\n \n \n CanAsia intends to use the net proceeds from the First Tranche, combined with CanAsia's previously available working capital, primarily for international new ventures focused initially on\n \n Thailand\n \n , and general corporate purposes.\n \n \n It is anticipated that an onshore\n \n Thailand\n \n licensing round will be announced within the first quarter of 2024. CanAsia intends to participate as part of a consortium alongside a strategic partnership with a leading integrated resource and technical service provider to the energy sector, with upstream to downstream operations, which the Company's management team has previously established a strong relationship. No assurance can be given that a CanAsia bid will be successful.\n \n \n Pursuant to the First Tranche, 22,420,000 Shares (\"\n \n LIFE Shares\n \n \"...