Canadian Oil Recovery & Remediation Enterprises Ltd. announced that it has received CAD 0.61 million in funding.
On June 17, 2013, the company announced that it has amended the terms of the transaction. The company will now issue 5,555,556 units at CAD 0.135 per unit. The warrant exercise price is now CAD 0.235 per share.
On July 3, 2013, the company announced that it has issued 2,037,040 units for gross proceeds of CAD 275,000 in the first tranche of the transaction. The company expects to close the transaction in one or more further subsequent tranches.
On August 21, 2013, the company announced that the transaction is still going on.
On December 10, 2013, Canadian Oil Recovery & Remediation Enterprises Ltd. closed the transaction. The company issued an additional 2,444,444 units for gross proceeds of CAD in the final tranche. The tranche included participation from five investors. The company issued a total of 4,481,484 units in the transaction for gross proceeds of CAD 605,000.34.