- E-Power Resources (EPR) has announced a non-brokered private placement for total gross proceeds of $2,000,000
- The offering will consist of a flow-through portion of up to $1,500,000 and a non-flow-through portion of up to $500,000
- While the company will use the net proceeds from the FT offering to incur eligible “Canadian exploration expenses,” it will use the net proceeds from the non-FT offering for general working capital purposes
- E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec
- E-Power Resources Inc. (EPR) was down 1.05 per cent, trading at $0.48 at 11:45 ET
E-Power Resources (EPR) has announced a non-brokered private placement for total gross proceeds of $2,000,000.
The offering will consist of a flow-through portion of up to $1,500,000 and a non-flow-through portion of up to $500,000.
Securities to be issued under the non-FT offering shall consist of an amount of up to 1,250,000 units issued at a price of $0.40 per non-FT unit. Each non-FT unit will consist of one common share and one common share purchase warrant. Each warrant entitles its holder to acquire one additional common share at a price of $0.60 per warrant share for a period of two years from the closing date of the non-FT offering.
Similarly, securities to be issued under the FT offering shall consist of an amount of up to 3,260,869 units issued at a price of $0.46 per non-FT unit. Each FT unit will be made up of one common share that will qualify as a “flow-through share” and one warrant, with each warrant entitling its holder to acquire one warrant share at a price of $0.60 per warrant share for a period of 2 years from the closing date of the FT offerings.
While the company will use the net proceeds from the FT offering to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures,” it will use the net proceeds from the non-FT offering for general working capital purposes.
The flow-through shares and the common shares will be offered by way of private placement in line with applicable exemptions from prospectus requirements.
The offering is expected to close on or about March 31, 2023, subject to the satisfaction or waiver of the customary closing conditions, including the approval of the Canadian Securities Exchange.
E-Power Resources Inc. is an exploration stage company engaged principally in the acquisition, exploration, and development of graphite properties in Quebec.
E-Power Resources Inc. (EPR) was down 1.05 per cent, trading at $0.48 at 11:45 ET.
