Business
Encanto announces pricing of prospectus offering
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVIC...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n\nTRADING SYMBOL: TSXV:EPO\n\n\n\n\nVANCOUVER, April 1, 2014 /CNW/ - Encanto Potash Corp. (\"Encanto\" or the \"Corporation\") (TSXV: EPO and OTCQX: ENCTF) is pleased to announce that further to its news release of March 12, 2014 it has filed and obtained a receipt for a final short form prospectus to raise gross proceeds of up to $4,000,565 (the \"Offering\") through the issuance of units (\"Units\") and flow-through units (\"Flow-Through Units\").  \n\nEncanto will raise up to $3,000,500 from the sale of 17,650,000 Units at a price of $0.17 per Unit, with each such Unit consisting of one common share and one half of one share purchase warrant, each whole warrant entitling the holder to purchase one non flow-through common share at a price of $0.30 per share for a period of 18 months from the closing date of the Offering.  \n\nEncanto will raise up to $1,000,065 from the sale of 5,263,500 Flow-Through Units at a price of $0.19 per Flow-Through Unit, with each such Flow-Through Unit consisting of one flow through common share (\"FT Share\") and one half of one share purchase warrant, each whole warrant entitling the holder to purchase one non flow-through common share at a price of $0.30 per share for a period of 18 months from the closing date of the Offering.  The FT Shares will be \"flow-through\" shares pursuant to the Income Tax Act.  \n\nSecutor Capital Management Corporation (\"Secutor\") is lead agent in connection with the offering and Haywood Securities Inc. (\"Haywood\") has agreed to act as agent (Secutor and Haywood collectively the \"Agents\").  \n\nThe Corporation has granted the Agents an over-allotment option (the \"Over-Allotment Option\"), exercisable in whole or in part, at the sole discretion of the Agents, for a period of 30 days from the closing date of the Offering, to purchase that number of additional Units (the \"Additional Units\") at a price of $0.17 per Unit and having the same terms as the Units, as is equal to 15% of the aggregate number of Units and Flow-Through Units sold under the Offering solely to cover over allotments, if any. \n\nIn consideration for the services rendered by the Agents in connection with the Offering, the Agents will be paid a cash fee equal to 6% of the ...