Vancouver (pcJ News Briefs) – Renaissance Oil Corp. (TSX-V: ROE) has completed previously announced private placement of 44,870,000 units at $0.25 per unit for gross proceeds of approximately $11.2 million.
The offering was made by a syndicate led by Haywood Securities Inc. and including Beacon Securities Limited and Canaccord Genuity Corp.
Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at an exercise price of $0.50 until July 31, 2019.
Net proceeds will be used to aid in the company’s ongoing efforts in securing oil and gas rights in Mexico, to fund capital expenditures and for general corporate purposes.
photo credit: Renaissance Oil