- New Stratus Energy (NSE) has closed the final tranche of its brokered private placement for gross proceeds of approximately $9.66 million
- The placement was led by Canaccord Genuity Corp. on behalf of a syndicate of agents including Echelon Wealth Partners Inc. and Paradigm Capital Inc.
- Net proceeds from the offering will be used for development and exploration activities on its Colombian block and to evaluate other opportunities
- New Stratus Energy Inc is a Canadian resource company
- New Stratus Energy Inc. (NSE) is trading at C$0.30 per share at 10:40 am ET
New Stratus Energy (NSE) has closed the final tranche of its brokered private placement.
The placement was led by Canaccord Genuity Corp. on behalf of a syndicate of agents including Echelon Wealth Partners Inc. and Paradigm Capital Inc.
Upon closing of the final tranche, the corporation issued 2,726,377 units for gross proceeds of approximately $818,000 bringing the aggregate total from the first and second tranche to 32,190,751 units for gross proceeds of approximately $9.66 million. Each unit is comprised of one common share and half of one purchase warrant. Each whole warrant is exercisable for one common share at a price of $0.45 for a period of 24 months from July 21, 2021.
New Stratus paid the agents a commission in the amount equal to 8 per cent of the gross proceeds of the offering.
The net proceeds from the offering will be used for development and exploration activities on its Colombian block, VMM-18, the evaluation of other opportunities in its core assessment areas of Colombia, Ecuador, Peru and Venezuela and general corporate purposes.
All securities issued pursuant to the final tranche offering will be subject to a hold period ending December 1, 2021. The offering remains subject to final approval from the TSX Venture Exchange.
New Stratus Energy is a Canadian resource company. The company is involved in the acquisition, exploration, and development of oil and gas properties.
New Stratus Energy Inc. (NSE) is trading at C$0.30 per share at 10:40 am ET.