Brief: Crown Energy enters into agreement with international investor on private placement
04/04/2016 07:16
April 4 (Reuters) - Crown Energy AB CRWEN.NGM :
* Enters into agreement with international investor on private placement of shares and
warrants of at least 63 million Swedish crowns ($7.75 million) and up to 126 million crowns
* Will propose that a shareholders meeting to be held on May 4, 2016 resolves on an issue of
31.5 million units to an international investor Cement Fund SCSp of Luxemburg
* Each unit consists of one new share and one warrant to subscribe for one share
* Subscription price per unit is 2 crowns
* Proceeds from private placement will initially be 63 million Swedish crowns
* Funds will be used for repayment of outstanding convertible loans
* Says emphasis will be put towards company's Iraqi project
* Says proceeds from investor shall be used primarily to progress Iraq development project
Source text for Eikon: ID:nNGnbXdrtK
Further company coverage: CRWEN.NGM
($1 = 8.1298 Swedish crowns)
(Gdynia Newsroom)
((gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))