- Prospera Energy (PEI) has closed its non-brokered private placements for total proceeds of $1,478,573
- The secured convertible debenture units raised $738,573
- The company also issued 9,866,667 common share units for proceeds of $740,000
- The proceeds will fund stage one of the abandonment program of approximately 102 leases
- Prospera is an oil and gas exploration and development company focused on conventional oil and gas reservoirs in Western Canada
- Prospera Energy Inc. (PEI) is unchanged, trading at C$0.055 per share at 2 pm ET
Prospera Energy (PEI) has closed its non-brokered private placements for total proceeds of $1,478,573.
The secured convertible debenture units raised $738,573.
The debentures will bear interest of 8 per cent per annum for a term of two years and can be converted into common share units at a conversion price of $0.05 in the first year and $0.10 in the second year.
Each of these units consists of one common share and one common share purchase warrant. Each warrant is exercisable at $0.075 for a period of two years.
The company also issued 9,866,667 common share units priced at $0.075 per unit for gross proceeds of $740,000. Each unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional share at a price of $0.10 per share for a period of two years.
Both the warrants and units are subject to an acceleration clause.
The proceeds will fund stage one of the abandonment program of approximately 102 leases.
Prospera is an oil and gas exploration and development company focused on conventional oil and gas reservoirs in Western Canada.
Prospera Energy Inc. (PEI) is unchanged, trading at C$0.055 per share at 2 pm ET.