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Prospera Energy Inc. Announces Second 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 Second Closing of Private PlacementsNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESCALGARY, AB / ACCESSWIRE / March 29, 2021 / Prospera Energy Inc. (\"Prospera\" or the \"Corporation\") (TSX-V:PEI)(FRA:OF6A) announced that it has completed a second tranche of its previously announced non-brokered private placement of $2,344,635.32 in convertible debenture units. The debentures will bear interest of 8% per annum for a term of 2 years and be convertible into common share units of the Corporation 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 Corporation. The Corporation paid finders fees to a qualified finder of $266.69 and issued 133,343 broker warrants, which are on the same terms as the warrants forming part of the units.The Corporation has also announced that it has closed a second tranche of the non-brokered private placement of $131,033.31 by the issuance of 6,551,665 units at $0.02. 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 Corporation paid finders fees to a qualified finder of $533.33 and issued 266,667 broker warrants, which are on the same terms as the warrants forming part of the units.Securities issued pursuant to this tranche are subject to trading restrictions until July 27, 2021. The Corporation is expecting to complete the financings by April 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.About ProsperaProspera is a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada. Prospera will use its experience to develop, acquire and drill assets with potential for primary and secondary recovery.For further information:Samuel David, President and Chief Executive OfficerTel: (403) 454-9010email: [email protected]: www.prosperaenergy.comFORWAR...