Canadian Oil Recovery & Remediation Raises $4.5 Million upon Exercise of Warrants - A Step to Finance Ancillary Operating Equipment Purchase and Working Capital Needs - Deal Analysis from GlobalData

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Canadian Oil Recovery & Remediation Raises $4.5 Million upon Exercise of Warrants - A Step to Finance Ancillary Operating Equipment  Purchase and Working Capital Needs - Deal Analysis from GlobalData Powered By Docstoc
					          Canadian Oil Recovery & Remediation Raises $4.5 Million
           upon Exercise of Warrants - A Step to Finance Ancillary
         Operating Equipment Purchase and Working Capital Needs -
                       Deal Analysis from GlobalData
        Reference Code: GDGE0310M&A                                                                                                        Publication Date: June 2011


        1         Table of Contents
        1 Table of Contents.................................................................1
         1.1 List of Tables .................................................................1
        2 Canadian Oil Recovery and Remediation Raises $4.5m
          upon Exercise of Warrants ...................................................2
         2.1 Deal Overview ...............................................................2
         2.2 Deal in Brief ...................................................................2
         2.3 CORRE Announced Financing of CAD4.4m ($4.5m)
              Through Warrant Conversion ........................................2
         2.4 CORRE Aims to Establish Itself with Its Specialized
              ARES I, II And III Operating Facilities and Technologies
                    2
         2.5 CORRE has been Raising Funds to Finance its Working
              Capital Requirements Since Past Few Years ................2
         2.6 Deal Financials and Valuations .....................................3
        3 Appendix ..............................................................................4
         3.1 Methodology ..................................................................4
         3.2 Contact Us.....................................................................5
         3.3 Disclaimer......................................................................5

        1.1       List of Tables
        Table 1: Companies Involved ....................................................3
        Table 2: Financials of the Deal ..................................................3
        Table 3: Target Information .......................................................3
        Table 4: Target’s Financial Information......................................4
        Table 5: Share Price Information ...............................................4
        Table 6: Company Valuation Multiples ......................................4
        Table 7: Acquirer Information ....................................................4




Canadian Oil Recovery & Remediation Raises $4.5 Million upon Exercise                                                                                GDGE0310M&A /JUN 2011
of Warrants - A Step to Finance Ancillary Operating Equipment Purchase                                                                                              Page 1
and Working Capital Needs                                                                            © GlobalData. This report is a licensed product and is not to be photocopied
                                                                            NAT, based in Jeddah, Kingdom of Saudi Arabia, is focused on
                                                                            investing in technology and technology-based ventures and
        2       Canadian Oil Recovery and                                   companies. The company’s association with CORRE has
                Remediation Raises $4.5m upon                               enhanced CORRE’s presence in Middle East and North Africa
                Exercise of Warrants                                        (MENA), especially in the Kingdom of Saudi Arabia. CORRE
                                                                            sees MENA as a promising market for its services.
        2.1    Deal Overview
        Deal Type:                  Equity Offerings
                                                                            2.4    CORRE Aims to Establish Itself with Its
                                                                                   Specialized ARES I, II And III Operating
        Deal Sub Type:              PIPE (Private Investment in Public             Facilities and Technologies
                                    Equity)
                                                                            CORRE utilizes its proprietary Advanced Recovery Equipment
        Deal Status:                Completed                               Systems (ARES) for sludge treatment, soil remediation and oil
        Completed Date:             June 21, 2011                           recovery. The company owns exclusive licenses to use
                                                                            innovative technologies and has developed proprietary
        2.2    Deal in Brief                                                processes for oil recovery, sludge and drill cuttings treatment
                                                                            and remediation of oil contaminated sites.
        Canadian Oil Recovery & Remediation Enterprises Ltd.
        (CORRE), a company engaged in providing oil recovery and            CORRE has a complete ARES I facility in Kuwait. It is capable
        remediation services, issued 22,187,500 shares at a price of        of continuously processing up to 20 tons per hour of oilfield
        CAD0.2 per share ($0.2 per share) for gross proceeds of             waste. ARES I is a proprietary technology designed to recover
        CAD4.44m ($4.52m), upon exercise of warrants. Of the total          hydrocarbons from the waste. ARES II operating facility also
        placement, Al-Najah Advanced Technolo
				
DOCUMENT INFO
Description: Canadian Oil Recovery & Remediation Raises $4.5 Million upon Exercise of Warrants - A Step to Finance Ancillary Operating Equipment Purchase and Working Capital Needs - Deal Analysis from GlobalData Summary Canadian Oil Recovery & Remediation Enterprises Ltd. (CORRE), a company engaged in providing oil recovery and remediation services, issued 22,187,500 shares at a price of CAD0.2 per share ($0.2 per share) for gross proceeds of CAD4.44m ($4.52m), upon exercise of warrants. Of the total placement, Al-Najah Advanced Technology Co. Ltd (NAT) exercised 21,250,000 warrants and Mr. Hassan Dahlawi, a Director of CORRE, exercised 937,500 warrants. The company intends to use the net proceeds from the placement towards purchase of ancillary operating equipment and for working capital requirements. Scope - Rationale behind Canadian Oil Recovery & Remediation Enterprises Ltd. issuing 22,187,500 shares for gross proceeds of CAD4.44m ($4.52m) - Strategic Benefit for the company, - Geography covered -Canada Reasons to buy - Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in North American industry, - Identify the most lucrative segments to leverage on the growth oppurtunities available in the Canada's oil & gas market, - Get a detailed analysis of a deal to enable you to take better decisions.
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