Shoal Point Energy Corp. (OTC: SHPNF) launched a non-brokered private placement of up to 60 million units at $0.05 per unit for gross proceeds of up to $3 million.
Each unit will consist of one share and one share purchase warrant. Each warrant is exercisable at a strike price of $0.06 with an expiry on the second anniversary of the date of closing of the transaction.
Proceeds of the private placement will be used for general working capital.
The company also launched a non-brokered private placement of up to 3 ...