Pinedale Energy Limited (TSE:MCF) has released an update.
MCF Energy Ltd. has upsized its non-brokered private placement from $2.5 million to $4.4 million, offering units at $0.15 each, including common shares and purchase warrants. The company plans to use the proceeds for working capital and general purposes, and is also settling over $1.5 million in debt with creditors through a similar unit issuance, aiming to strengthen its balance sheet and preserve cash.
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