- New Stratus Energy has closed the first tranche of its brokered private placement
- The corporation issued 29,464,374 units at a price of $0.30 per unit, for gross proceeds of $8.84 million
- New Stratus expects to close a second and final tranche of the brokered private placement on or about July 29, 2021
- Net proceeds from the offering will be used for development and exploration activities and general corporate purposes
- New Stratus Energy is a Canadian-based resource company
- New Stratus Energy Inc. (NSE) is trading at C$0.32 per share at 1:35 pm ET
New Stratus Energy (NSE) has closed the first tranche of its brokered private placement led by Canaccord Genuity Corp.
Upon closing of the first tranche, the corporation issued 29,464,374 units at a price of $0.30 per unit, for gross proceeds of $8.84 million.
Each unit consists of one common share and one-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.
The corporation expects to close a second and final tranche of the brokered private placement on or about July 29, 2021.
As consideration for services rendered, New Stratus paid the agents a commission equal to 8% of the gross proceeds of the offering.
Net proceeds from the offering will be used for development and exploration activities and general corporate purposes.
All securities issued will be subject to a hold period ending November 22, 2021. The offering remains subject to final approval from the TSX Venture Exchange.
New Stratus Energy is a Canadian-based resource company involved in the acquisition, exploration, and development of oil & gas properties. Its assets are located in Colombia, Ecuador, Mexico and Peru.
New Stratus Energy Inc. (NSE) is trading at C$0.32 per share at 1:35 pm ET.