| Home : April 2011 : April 08, 2011 News : CORRE Closes First Financing Tranche and Announces Warrant Conversion |
CORRE Closes First Financing Tranche and Announces Warrant Conversion |
April 08, 2011
TORONTO, ONTARIO--(Marketwire - April 8, 2011) - Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX VENTURE:CVR)(OTCQX:CRVYF) ("CORRE" or the "Company") is announcing the completion of the first tranche of the Company's previously announced private placement for total gross proceeds of $463,584 at a price of $0.38 per unit (each a "Unit"). Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional Common Share at a price of $0.625 for a period of two years from closing. The Common Shares and Warrants issued in connection with this private placement are subject to a statutory four-month hold period in accordance with applicable securities laws.
http://www.marketwire.com/mw/release.do?id=1425223&sourceType=3
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