Business
MCF ENERGY LTD. CLOSES FULLY SUBSCRIBED NONBROKERED PRIVATE PLACEMENT
MCF ENERGY LTD. CLOSES FULLY SUBSCRIBED NONBROKERED PRIVATE PLACEMENT Canada NewsWire ...
About this update from Mcf Energy Ltd
[{"type":"text","content":"\n\n\n\n MCF ENERGY LTD. CLOSES FULLY SUBSCRIBED NONBROKERED PRIVATE PLACEMENT\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\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n July 31, 2024\n \n\n /CNW/ - MCF Energy Ltd. (\"MCF Energy\" or the \"Company\") (TSXV: MCF) (FRA: DC6) (OTCQX: MCFNF) is pleased to announce, that further to its press release dated\n \n July 15, 2024\n \n , the Company has closed its fully subscribed non-brokered private placement (the \"\n \n Offering\n \n \").  The Company issued a total of 29,848,686 units for aggregate gross proceeds of\n \n $4,447,303\n \n .  Each unit (the \"\n \n Unit\n \n \") consists of one common share (a '\n \n Share\n \n \") of the Company and one share purchase warrant (a \"\n \n Warrant\n \n \") with each Warrant entitling the holder to acquire an additional common share at an exercise price of\n \n $0.16\n \n until\n \n July 31\n \n , 2026.\n \n\n In connection with the Offering, the Company paid finders' fees of\n \n $100,036\n \n . In addition, the Company issued 666,906 non-transferable finders' warrants. Each finders' warrant entitles the holder to acquire one Share at a price of\n \n $0.16\n \n per Share until\n \n July 31, 2026\n \n .\n \n\n The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.\n \n\n The Company also announces that it has settled outstanding debt owed by the Company to various creditors in the aggregate amount of C$1,566,788 (the \"\n \n Debt\n \n \") through the issuance of an aggregate of 10,445,254 units (the \"\n \n Debt Units\n \n \"), at a deemed price of\n \n $0.15\n \n per Debt Unit.  Each Debt Unit consists of one common share and one full common share purchase warrant (a \"\n \n Warrant\n \n \") with each Warrant entitling the holder to acquire an additional common share at an exercise price of\n \n $0.16\n \n until\n \n July 31, 2026\n \n .\n \n\n Certain insiders of the Company acquired Units pursuant to the Offering and as such a portion of the Offering is consid...