True North Energy Corporation announced that a new equity investment of $100,000 was received by the company out of a $212,500 binding subscription. The balance of the funds are scheduled over the next four months.
The funds are designated for working capital and debt repayment.
The investor will be issued a new series of preference share, convertible over three years at a discount to the market price of the Company’s shares, among other features.
Ture North is pleased to announce earnings of $1,083,046 for the nine months ended January 31,2019 which represents basic earnings per share of $0.02 and fully diluted per share of $0.01.