E-Power Resources Launches C$350K Private Placement of 7M Units at C$0.05
E-Power Resources will issue up to 7 million units at C$0.05, raising C$350 000 via share-plus-warrant packages exercisable at C$0.075 to fund Tetepisca project development and working capital, with closing expected April 10. Director Mark Billings resigned immediately, and the company received a Zacks Rank #2 high-yield dividend rebound recommendation.
1. Private Placement Details
E-Power Resources announced a private placement of up to 7 million units at C$0.05 each, generating gross proceeds of C$350 000. Each unit comprises one common share and one warrant exercisable at C$0.075, offering investors an additional share option over a five-year period.
2. Use of Proceeds and Closing
Net proceeds are earmarked for advancing the Tetepisca project and bolstering general working capital. The offering is structured under applicable exemptions and is expected to close on or about April 10, subject to customary conditions and approval by the Canadian Securities Exchange.
3. Director Resignation and Dividend Ranking
Mark Billings resigned as a director effective immediately, marking a board change for the company. Separately, E-Power Resources was highlighted with a Zacks Rank #2 for its high-yield dividend prospects and potential rebound appeal.