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Eguana Announces Brokered Private Placement for up to $1.5 Million
Eguana Announces Brokered Private Placement for up to $1.5 Million Canada NewsW...
About this update from Eguana Technologies Inc
[{"type":"text","content":"\n \n \n \n Eguana Announces Brokered Private Placement for up to $1.5 Million\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 \n \n \n \n \n \n Canada NewsWire\n \n \n CALGARY, AB, Nov. 13, 2020\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n CALGARY, AB\n \n ,\n \n Nov. 13, 2020\n \n /CNW/ - Eguana Technologies Inc. (\"\n \n Eguana\n \n \" or the \"\n \n Company\n \n \") (TSX.V: EGT) (OTCQB: EGTYF) is pleased to announce that it has entered into an engagement letter pursuant to which Eguana has appointed Stifel GMP and Fort Capital Securities Ltd. (together, the \"\n \n Agents\n \n \") to, on a reasonable commercial efforts basis, sell by way of private placement, up to 10,000,000 common shares in the capital of the Company (each, a \"\n \n Common Share\n \n \" and collectively, the \"\n \n Common Shares\n \n \") at an issue price of\n \n $0.15\n \n per Common Share, for gross proceeds of up to\n \n $1.5 million\n \n (the \"\n \n Offering\n \n \"). The proceeds of the Offering will be used to expedite the development and launch of a higher power cobalt free lithium iron phosphate product and for general working capital purposes.\n \n \n \n \n \n \n \n \n \n In connection with the Offering, which is expected to close on or about\n \n November 17\n \n \n th\n \n (the \"\n \n Closing Date\n \n \"), the Agents will be paid a cash commission equal to 7.5% of the gross proceeds of the Offering. The Agents will also receive broker warrants (each a \"\n \n Broker Warrant\n \n \" and collectively, the \"\n \n Broker Warrants\n \n \") equal to 7.5% of the total number of Common Shares issued pursuant to the Offering. Each Broker Warrant will be exercisable to purchase one Common Share at an exercise price of\n \n $0.15\n \n per share for a period of 24 months from the date of issuance thereof.\n \n \n All securities issued pursuant to the Offering will be subject to a hold period or four months plus one day from the Closing Date, in accordance with applicable securities l...