The Company intends to use the proceeds to settle outstanding liabilities and general working capital.
CruzSur announces private placement. (Credit: skeeze from Pixabay)
CruzSur Energy Corp. (the “Company” or “CruzSur”) (TSXV: CZR) announces that the Company is undertaking a non-brokered private placement of 2,000,000 units (each, a “Unit”), at a price of C$0.15 per Unit, for gross proceeds of C$300,000. Each Unit consists of one common share and one share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder to purchase one additional share at a price of C$0.18 for a period of twenty four (24) months from the date of issuance. The placement is fully subscribed and is subject to TSXV Exchange approval.
The Company intends to use the proceeds to settle outstanding liabilities and general working capital.
Source: Company Press Release