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Pine Cliff Energy raises $19MM from promissory notes
Pine Cliff Energy has closed a private placement of 19,000 units for $1,000 each to raise $19 million. Each unit consists of one promissory note with a face value of $1,000 and 150 share purchase warrants. Each promissory note was issued at par value and has an interest rate of 7.05% p.a. The notes, which mature in July 2022, will be used to repay previous debt and to provide additional working capital. The 2.85......
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