00:46:31 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Opal Energy Corp (2)
Symbol OPA
Shares Issued 8,691,019
Close 2014-08-29 C$ 0.085
Market Cap C$ 738,737
Recent Sedar Documents

Opal Energy arranges $396,000 private placement

2014-09-02 14:47 ET - News Release

Mr. David Hughes reports

OPAL ENERGY ANNOUNCES $396,000 PRIVATE PLACEMENT AND CLOSING OF SHARES FOR DEBT SETTLEMENT

Opal Energy Corp. is completing a private placement of 6.6 million units at a price of six cents per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will be exercisable into one additional share at a price of 12 cents for a period of 12 months from closing. All shares and warrants issued under the offering will be subject to a four-month hold period which will run from the date of issuance. The offering is subject to NEX and shareholder approval. Proceeds of the offering will be used to reduce corporate debt and to finance the company's continuing review of prospective projects in the resource sector.

The company also announces that it has completed its $300,000 shares-for-debt settlement with its primary creditor. The debt settlement resulted in the issuance of six million shares at a price of five cents per share. The debt settlement was assigned to multiple arm's-length parties and did not result in the creation of new insiders or a new control person. The shares issued under the debt settlement are subject to a four-month hold period which expires Dec. 30, 2014. The debt settlement has received final NEX approval.

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