Shoal Point Energy Completes Funding Round

Shoal Point Energy (TSE:SHP) has released an update.

Shoal Point Energy Ltd. has successfully completed its non-brokered private placement, issuing over 6 million units at $0.05 each, totaling approximately $309,000 in gross proceeds to bolster its working capital. Each unit includes a share and a warrant, with the latter exercisable at $0.07 for up to three years post-closing. The placement also involved a minor finder’s fee and participation from two company directors, deemed a related party transaction exempt from certain regulatory requirements.

For further insights into TSE:SHP stock, check out TipRanks’ Stock Analysis page.