- Emergia (EMER) has closed another portion of its C$15 million private placement in cash and debt settlement
- On June 30, the company issued 2,328,102 units composed of $1,250,000 in cash and $565,920 in payment of outstanding debts
- CEO Henri Petit invested $1.25 million in the private placement
- Due to investor interest, additional closings may be held until July 19, 2021
- Emergia operates in the development, acquisition and management of multi-purpose real estate
- Emergia (EMER) is up by 2.8 per cent and is currently trading at $1.10 per share
Emergia (EMER) has closed another portion of its C$15 million private placement in cash and debt settlement.
On June 30, the company issued 2,328,102 units for a total of $1,815,920, composed of $1,250,000 in cash and $565,920 in payment of outstanding debts.
Each unit, issued at $0.78 per unit, is composed of one Class A Emergia common share and one common share purchase warrant.
Each warrant entitles the holder to purchase one Emergia common share for $1.25 until June 30, 2023.
The total amount subscribed in the private placement has now reached $10 million.
Henri Petit, President and CEO of Emergia, commented,
“To show my confidence in the future of the corporation, along with the management and directors, I am proud to invest $1.25 million in Emergia’s capital. The recent transactions announced by Emergia in Ontario along with the execution of our reorganization plan demonstrate the corporation’s capacity to realize its objective of growth and valuation of the corporation’s assets.”
Following the closing, Petit will own 27.17 per cent of Emergia’s Class A common shares and 22.16 per cent of its Class B multiple voting shares.
Due to investor interest, additional closings of the private placement may be held until July 19, 2021.
Emergia operates in the development, acquisition and management of multi-purpose real estate.
Emergia (EMER) is up by 2.8 per cent and is currently trading at $1.10 per share as of 11:22 am ET.