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Prospera Energy Inc. Announces Final Closing of Private Placements
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ...
About this update from Prospera Energy Inc.
[{"type":"text","content":"Prospera Energy Inc. Announces Final Closing of Private PlacementsNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESCALGARY, AB / ACCESSWIRE / April 1, 2021 / Prospera Energy Inc. (\"Prospera\" or the \"Company\") (TSXV:PEI)(FRA:OF6A) announced that it has completed the final tranche of its previously announced non-brokered private placement of $583,000 in convertible debenture units. In the first tranche, the Company raised proceeds of $382,776.67 and in the second tranche the Company raised proceeds of $2,344,635.32. The debentures will bear interest of 8% per annum for a term of 2 years, and be convertible into common share units of the Company at a conversion price of $0.05. Each of these units consists of one common share and one common share purchase warrant. Each warrant is exercisable at $0.075 for a period of two years from the date of closing subject to acceleration provisions. Applicable interest will be payable in cash or shares, at the option of the Company. The Company paid finders fees to a qualified finder in closing 2 of $266.69 and issued 37,336 broker warrants, which are on the same terms as the warrants forming part of the units.The Company has also announced that it has closed the final tranche of the non-brokered private placement of $67,000 by the issuance of 3,350,000 units at $0.02. In the first tranche the Company raised proceeds of $615,566.65 through the sale of 30,778,330 Units. In the second tranche, the Company raised $131,033.31 through the sale of 6,551,665 units. Each unit consists of one common share and one warrant entitling the holder to subscribe for one additional share for $0.05 for a period of 2 years. The Company paid finders fees to a qualified finder in closing 2 of $533.33 and issued 186,667 broker warrants, which are on the same terms as the warrants forming part of the units. The Company paid finders fees to a qualified finder in closing 2 of $148,750 in convertible debentures and in closing 3 paid a finders fee of $750 and issued $34,250 convertible debentures.Securities issued pursuant to this final tranche are subject to trading restrictions until August 1, 2021.Proceeds will be used for payment of debt, working capital and continuing capital programs, including the optimization of production on all its properties and general working capital...