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Encanto Potash Corp. Announces $6,000,000 Private Placement Offering of Flow-Through Shares and Units
May. 17, 2010 10:29AM PST
Potash Investing
Encanto Potash Corp. (TSX VENTURE:EPO) reported that it has entered into an agreement with Mackie Research Capital Corporation to act as lead agent and sole bookrunner, on a best-efforts basis, for a private placement offering of up to $5,000,000 in common shares.
Encanto Potash Corp. (TSX VENTURE:EPO) reported that it has entered into an agreement with Mackie Research Capital Corporation to act as lead agent and sole bookrunner, on a best-efforts basis, for a private placement offering of up to $5,000,000 in common shares.
The press release is quoted as saying:
The Offering will be priced in the context of the market, with indicative terms of $0.23 per Flow-Through Share and $0.20 per Unit, each Unit consisting of one common share and one-half of one common share purchase warrant. The proceeds from the issuance of the Flow-Through Shares will be used to fund the Company’s ongoing exploration programs on its qualifying properties in the Province of Saskatchewan.
Click here to access the entire press release