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Encanto announces closing of private placement for gross proceeds of $3,072,815
Encanto announces closing of private placement for gross proceeds of $3,072,815 En...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n\n\nEncanto announces closing of private placement for gross proceeds of $3,072,815\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.prngen2{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen3{\nBORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\nEncanto announces closing of private placement for gross proceeds of $3,072,815\nCanada NewsWire\nVANCOUVER, June 3, 2016\n\n\n\nTRADING SYMBOL: TSXV:EPO\n\n\n\nVANCOUVER, June 3, 2016 /CNW/ - Encanto Potash Corp. (\"Encanto\" or the \"Company\") (TSXV: EPO) is pleased to announce that, further to its news release of May 16, 2016, it has closed its private placement of non-flow-through units (\"Units\") and flow-through shares.  A total of 24,503,000 Units were issued at a price of $0.105 per Unit for gross proceeds of $2,572,815.  Each Unit consists of one common share and one warrant, each warrant entitling the holder to purchase one common share at a price of $0.16 per share on or before December 3, 2018.  Additionally, a total of 3,125,000 flow-through common shares were issued at a price of $0.16 per share for gross proceeds of $500,000.  Finders' fees of $25,210 were paid in connection with the private placement.\n\nThe proceeds from the private placement will allow Encanto to discharge its accounts payable, will provide working capital, and will provide funds for work on the Muskowekwan Project and to establish the potash trading company.\n\nInsiders purchased an aggregate of 11,715,500 Units.\n\nThe shares and warrants comprising the Units issued in connection with the private placement are subject to a hold period expiring October 4, 2016, and the flow-through shares are subject to a hold...