Business
ENPAR announces negotiations for non-brokered private placement
ENPAR announces negotiations for non-brokered private placement.
About this update from Current Water Technologies Inc
[{"type":"text","content":"\n\n\n\nGRANT OF STOCK OPTIONS TO CONSULTANTS\n\n\nGUELPH, ON, Feb. 23 /CNW/ - ENPAR Technologies Inc. ("ENP" - Tier 2 -\nTSX) wishes to announce that the Company is completing negotiations with arm's\nlength parties for a private placement. Under the Private Placement Agreement\nthe company will receive up to $1,825,000 in new funds. The private placees\nwill subscribe for 7,300,000 Units of ENPAR. Each Unit subscribed consists of\none (1) common share of the Company and one (1) share purchase warrant. The\nprice of each common share is $0.25 and will be subjected to a statutory hold\nperiod. The share purchase warrants will entitle the holder to acquire one (1)\nadditional common share of ENPAR at a price of $0.35 for a period of two (2)\nyears following the closing of the transaction. The Company anticipates that\nthe agreement will close shortly.\n\n\nThe Company will pay a finder's fee of up to 10% to White Knight Capital\nCorp. and Halcorp Capital Ltd.\n\n\nThe private placement is subject to regulatory approval by the TSX\nVenture Exchange.\n\n\nENPAR announces that it has agreed to grant 735,000 options to four\nconsultants. The options are exercisable at a price of $0.25 per share for a\nperiod of up to five years. The 735,000 options will be subject to shareholder\napproval at the next AGM scheduled for June 5, 2007.\n\n\nENPAR is a "Technology Company" applying its patented and proprietary\n"Electrochemical Technologies" to the treatment of waste water and drinking\nwater contaminated by metals or nutrients i.e., nitrate/ammonia associated\nwith the mining, metal processing, chemical, agricultural, municipal and waste\nmanagement sectors. The common shares trade on Tier ll of the TSX Venture\nExchange under the symbol "ENP".\n\n\nThis news release contains forward-looking statements within the meaning\nof the "safe harbour" provisions of the Private Securities Litigation Reform\nAct of 1995. These forward-looking statements are subject to risks and\nuncertainties and other factors that may cause ENPAR Technologies Inc. results\nto differ materially from expectations. These include risks relating to market\nfluctuations, property performance and other risks. These forward-looking\nstatements speak only as of the date hereof.\n\n\n","length":2371,"tagName":"div"}]