ENMAX Corporation (“ENMAX”) today announced the purchase through a private placement from treasury (the "Private Placement") of 2,000,000 units of Streetlight Intelligence Inc. (“STI”), (TSX-V: SJQ) at a subscription price of $0.10 per unit for an aggregate subscription of $200,000. Each unit consists of one common share in the capital of STI and one-half of one common share purchase warrant (a "Unit"). The purchase of 2,000,000 Units was for investment purposes and represents an acquisition of approximately 2.9 per cent of STI's issued and outstanding common shares.
After the Private Placement, ENMAX owns and controls 13,562,500 common shares in the capital of STI and 1,000,000 warrants, each whole warrant being convertible into one common share. The 13,562,500 common shares, represent approximately 19.5 per cent of STI's issued and outstanding common shares. The Units were issued to ENMAX pursuant to a share subscription agreement dated as of May 15, 2009, between ENMAX and STI. ENMAX purchased the Units pursuant to the "accredited investor" exemption found in National Instrument 45-106.
ENMAX Corporation, through subsidiaries and predecessors, has provided Albertans with safe and reliable electricity for more than 100 years. ENMAX provides electricity, natural gas and value-added services to more than 600,000 residential, commercial and industrial metered customer locations in Alberta. ENMAX Energy Corporation, a subsidiary of ENMAX Corporation, is Alberta’s leading competitive electricity retailer. Through subsidiaries, ENMAX Energy is one of Alberta’s largest investors in renewable energy and was the first Canadian electricity retailer to offer customers the option to support wind generated energy. As well, ENMAX Corporation, through its subsidiary ENMAX Envision, provides fibre optic networks for high speed data and internet communications.