CALGARY, Alberta, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to announce today that it will be entering into subscription agreements with Alberta Investment Management Corporation (“AIMCo”), on behalf of certain of its clients, and certain members of management to purchase common shares of Razor (each, a “Razor Share”) for a subscription price of $0.84 per Razor Share (the “Issue Price”). AIMCo will subscribe for and agree to purchase 2,200,000 Razor Shares with aggregate proceeds of $1,848,000 (the “AIMCo Subscription”). Certain members of management will collectively subscribe for 50,000 Razor Shares at the Issue Price for proceeds of $42,000 (the “Management Subscription”). In addition to the AIMCo Subscription and Management Subscription, the Company also anticipates offering, on a best efforts basis, up to an additional 369,047 Razor Shares for additional proceeds of up to $310,000 (the “Best Efforts Offering” and collectively, with the AIMCo Subscription and Management Subscription, the “Private Placement”). The gross proceeds of the Private Placement are anticipated to be up to $2,200,000 (the “Maximum Gross Proceeds”).
Razor Energy Corp. Announces Proposed Private Placement
Oct 13, 2021
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