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Super Nova Petroleum (CSE:SNP) says it has closed the fourth tranche of a non-brokered private placement issuing 725,000 units for gross proceeds of $36,500. Each unit is made up of one common share and one three-year common share purchase warrant giving the holder a chance to acquire an additional common share at $0.0075 during the first year, $0.10 during the second and $0.125 during the last year.
According to the press release:
Each unit is comprised of one common share and one three year common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of $0.075/share during the first year, $0.10/during the second year and $0.125/share during the last year of the exercise period. Proceeds from this financing will be used for general working capital. No finder’s fee was payable with respect to this financing.
Click here to read the Super Nova Petroleum Corp. (CSE:SNP) press release
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