Farmington Hills-based Enercorp Inc. announced last week that a new board will take over the company and move it to California after completing initial funding.
Enercorp (OTC BB: ENCP.OB) announced Oct. 1 that it had completed a $300,000 private placement of common stock at $1.25 a share and has entered into second- and third-round funding commitments worth an additional $3 million with California investor Jack Wen and an investor group for which he is the authorized agent.
Enercorp, a business-development company, reported that Wen and his investor group entered into a subscription agreement with Enercorp for a second-round funding commitment of $1 million and a ...