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Renaissance Oil Corp. Completes $11.1 Million Private Placement

Published: 03/05/2018

Team: Jennifer Traub, Jonathan J. Chandler

On March 5, 2018, Renaissance Oil Corp. closed a private placement pursuant to an agency agreement between Renaissance and Haywood Securities Inc., Paradigm Capital Inc., Beacon Securities Limited and Canaccord Genuity Corp. A total of 44,555,000 units (which includes the partial exercise of the agents’ option) were issued at a price of $0.25 per unit for aggregate gross proceeds of approximately $11.1 million.

Each unit consists of one common share of Renaissance and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share of Renaissance at an exercise price of $0.50 until March 5, 2021.

Cassels Brock acted for Renaissance with a deal team that included Jennifer Traub and Jonathan Chandler (Securities).