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ENPAR Announces Private Placement of up to $5,000,000
ENPAR Announces Private Placement of up to $5,000,000.
About this update from Current Water Technologies Inc
[{"type":"text","content":"\n\n\n\n/"NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n\n\nTHE UNITED STATES"/\n\n\nGUELPH, ON, Oct. 29 /CNW/ - ENPAR Technologies Inc. (TSX-V: ENP)\n("ENPAR") is pleased to announce that it has negotiated, subject to regulatory\napproval and formal documentation, a brokered private placement with Canaccord\nCapital Corporation ("Canaccord") to raise up to $5,000,000 with an\nover-allotment option of up to an additional 20%, on a commercially reasonable\nefforts basis. Funds will be raised through the sale of units to purchasers in\nBritish Columbia, Alberta, Ontario and in such other jurisdictions in Canada\nand outside Canada, which are agreed to by the Company and Canaccord.\n\n\nThe placement will be for 12,500,000 units at a price of $0.40 per unit.\nCanaccord will be entitled to increase the offering size by up to an\nadditional 2,500,000 units. Each unit will comprise one Common Share and one\ntransferable Common Share Purchase Warrant ("Warrant"). Each warrant will\nentitle the holder to acquire one additional Common Share for a period of two\nyears from closing at a price of $0.50 per common share. The proceeds of this\noffering will be used for working capital purposes.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\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\...