Business
New Stratus Energy Announces Final Closing of Brokered Private Placement
Calgary, Alberta--(Newsfile Corp. - July 30, 2021) - New Stratus Energy Inc. (TSXV: NSE) (" Ne...
About this update from New Stratus Energy Inc
[{"type":"text","content":"New Stratus Energy Announces Final Closing of Brokered Private PlacementCalgary, Alberta--(Newsfile Corp. - July 30, 2021) - New Stratus Energy Inc. (TSXV: NSE) (\"New Stratus\" or the \"Corporation\") is pleased to announce that it has closed the second and final tranche of the previously announced brokered private placement led by Canaccord Genuity Corp. (the \"Lead Agent\") as lead agent and sole bookrunner on behalf of a syndicate of agents comprised of Echelon Wealth Partners Inc. and Paradigm Capital Inc. (together with the Lead Agent, the \"Agents\"). Upon closing of the final tranche, the Corporation issued 2,726,377 units (\"Units\") of the Corporation at a price of $0.30 per Unit for gross proceeds of approximately $818,000 bringing the aggregate total from the first and second tranche to 32,190,751 Units for gross proceeds of approximately $9.66 million (the \"Offering\"). Each Unit is comprised of one common share of the Corporation (a \"Common Share\") and one-half of one Common Share purchase warrant (a \"Warrant\"). Each whole Warrant is exercisable for one Common Share at an exercise price of $0.45 for a period of 24 months from July 21, 2021. As consideration for services rendered in connection with the Offering, the Corporation paid to the Agents a commission in the amount equal to 8% of the gross proceeds of the Offering.The Corporation intends to use the net proceeds from the Offering for development and exploration activities on its Colombian block, ‎VMM-18, the evaluation of other opportunities in its core assessment areas of Colombia, Ecuador, Peru and Venezuela and general corporate purposes.In accordance with applicable Canadian securities laws, all securities issued pursuant to the final tranche Offering will be subject to a four (4) month hold period ending December 1, 2021. The Offering remains subject to final approval from the TSX Venture Exchange.The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the ...