Total
0
Shares
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Emergia (EMER) has completed the first closing of a private placement of up to $5,000,000 of convertible debentures for proceeds of $2,000,000
  • The debentures bear interest of 8 per cent per year, payable in cash or common shares
  • The debentures are convertible into one unit at a conversion price of $0.85
  • Emergia operates in the development, acquisition and management of multi-purpose real estate
  • Emergia Inc. (EMER) opened trading at C$1.00 per share

Emergia (EMER) has completed the first closing of a private placement of up to $5,000,000 of convertible debentures for proceeds of $2,000,000.

The debentures bear an interest rate of 8 per cent per year, payable semi-annually in cash or in Class A common shares. The debentures are convertible into one unit at a conversion price of $0.85.

Each unit includes one share and two warrants. The first warrant entitles the holder to purchase one share at a price of $1.25 until October 31, 2023, and the second warrant entitles the holder to purchase one share at a price of $1.50 until October 31, 2024.

In the event that the volume-weighted trading price of the shares for the last 20 days on the CSE is equal to, or greater than $1.50 per share, Emergia may opt to force the conversion of the debentures into units.

Henri Petit, President and CEO of Emergia commented on the completion of the first round of financing.

“This closing marks an important milestone in Emergia’s timeline in its financial repositioning, allowing the corporation to reduce significantly its short-term debt and to start development projects to pursue its objective of growth and valuation of its assets.”

Emergia operates in the development, acquisition and management of multi-purpose real estate.

Emergia Inc. (EMER) opened trading at C$1.00 per share.

More From The Market Herald

" Search Minerals (TSXV:SMY) announces $5M private placement

Search Minerals (SMY) is conducting a non-brokered private placement for gross proceeds of up to $5,000,000.

" DLP Resources (TSXV:DLP) updates proposed private placement

DLP Resources (DLP) intends to complete an offering of up to 2,000,000 FT units for gross proceeds of $500,000.
Drilling at Tyko

" Palladium One (TSXV:PDM) announces $4.35M private placement

Palladium One (PDM) is pleased to announce a non-brokered private placement for gross proceeds of C$4,350,000.

" Adyton Resources (TSXV:ADY) announces $4M private placement

Adyton Resources  (ADY)  has announced a brokered private placement for gross proceeds of up to $4,000,000.