Vancouver, British Columbia–(Newsfile Corp. – November 6, 2019) – DXI Energy Inc. (TSX: DXI) (OTCQB: DXIEF) (“DXI” or the “Company”), is pleased to announce that in connection with a Unit Offering (the “Offering”) in progress and in accordance with the Toronto Stock Exchange (“TSX”) rules, the Company obtained the approval, by way of written consent, from its shareholders, which currently holds 114,765,669 shares representing 53% of the issued and outstanding shares of the Company, on a non-diluted basis, to issue greater than 25% of the current issued and outstanding number of shares of 216,518,351. Pursuant to the Offering, the terms of which were negotiated at arm’s length, the Company will issue, on a private placement basis, up to 40,000,000 units (the “ Units “) at a price of Cdn$0.03 per Unit (the “ Unit Offering Price “), which at the date of pricing was the market price at the time of application with the TSX on September 24, 2019 (the 5-day volume-weighted average price of $0.035032 on the TSX) minus a 14.36% discount. Each Unit shall consist of one common share (“ Share “) and one common share purchase warrant (“ Warrant “). Each Warrant shall be exercisable into […]
