Business
Return Energy Announces $5 Million Private Placement
Return Energy Announces $5 Million Private Placement Canada NewsWire CALGARY, No...
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\nReturn Energy Announces $5 Million Private Placement\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\nCanada NewsWire\nCALGARY, Nov. 13, 2017\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES.  FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./\n\n\n\nCALGARY, Nov. 13, 2017 /CNW/ - Return Energy Inc. (\"Return\" or the \"Company\") (TSX-V: \"RTN\") is pleased to announce that it intends to complete a non-brokered private placement (the \"Offering\") of 66,666,666 units of the Company (the \"Units\") at a price of $0.075 per Unit for aggregate gross proceeds of $5,000,000. The proceeds of the Offering will be used by Return to further its development activities in the Rycroft, Gordondale and Valhalla areas of Alberta.\n\nEach Unit will consist of one common share in the capital of the Company (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.10 per Common Share (the \"Warrant Exercise Price\") at any time up to 5:00 p.m. (Calgary time) on or before the earlier of the date that is: (a) five years from the closing date of the Offering, and (b) 30 days after the giving of the Early Termination Notice (as defined herein) by the Company. If the volume-weighted average price of the Common Shares on the TSX Venture Exchange (the \"TSXV\") exceeds the Warrant Exercise Price by at least 200% for a minimum of 20 consecutive trading days (whether or not trading of the Common Shares occurs on such days, provided that the Common Shares trade on at least fifteen of such trading days and the total value of Common Shares traded during such periods is greater than $1,500,000), the Warrants will be subject to, at the option of the Company, an accelerated expiry date that is 30 days after the date on which the Company provides notice to holders of Warrants of such accelerated expiry date (the \"Early Termination Notice\"). \n\nReturn has received and accepted a subscription from Vertex Managed Val...