UNITY Closes Private Placement
(firmenpresse) - UNITY CLOSES PRIVATE PLACEMENT
April 18, 2016 - Unity Energy Corp., (the Company) is pleased to announce that it has closed its non-brokered private placement initially announced April 8, 2016.
The Company raised $445,000 through the sale of 2,225,000 units at a price of $0.20 per unit. Each unit is comprised of one (1) common share and one-half (1/2) warrant. Each whole warrant will be exercisable at a price of $0.30 for two (2) years from the date of issuance. Three insiders of the Company participated in the offering and subscribed for an aggregate of 160,000 units representing an aggregate amount of $32,000. Participation of insiders of the Company in the offering constitutes a related-party transaction as defined under MI 61-101. The offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of securities being issued to insiders nor the consideration being paid by insiders exceeded 25 percent of the Companys market capitalization. The Company did not file a material change report 21 days prior to the closing of the offering as details of the participation of insiders of the Company had not been confirmed at that time.
No finders fees were paid in connection with this offering. TSX Venture Exchange approval was received April 15, 2016.
All securities issued in connection with the offering are subject to a statutory hold period of four months plus a day from the respective date of issuance, in accordance with the applicable securities legislation.
The Company intends to use the proceeds from the offering for general working capital, and for exploration expenditures on the Companys Millers Crossing Lithium Project, located in Esmeralda County, Nevada.
For more information, contact the Company at 604-681-0004 or visit www.unityenergycorp.com
On Behalf of the Board of Directors of Unity Energy Corp.
Anita Algie
Anita Algie B.Sc. Hon, President
Unity Energy Corp.
#313-515 West Pender Street,
Vancouver, BC,
Kanada, V6B 6H5
www.unityenergycorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Datum: 18.04.2016 - 19:13 Uhr
Sprache: Deutsch
News-ID 464678
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contact information:
Town:
Wien
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Business News
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