Austpro Energy Corp (TSXV:AUS.H) announced a non-brokered private placement of up to 8,000,000 subscription receipts at a price of CAD 0.05 per subscription receipt for gross proceeds of CAD 400,000 on September 20, 2018. The transaction will include participation from The Emprise Special Opportunities Fund (2017) Limited, a fund managed by Emprise Capital Corp., Investment Arm. The proceeds of the financing will be held in escrow, subject to the satisfaction of the following conditions of the Company’s common shares on a 4 old for 1 new basis, the satisfactory settlement of the Company’s liabilities, changes to the board and senior officers of company with persons acceptable to investor, approval of TSX Venture Exchange approval, and shareholder of the company. Upon the satisfaction of investor release conditions, each subscription receipt will automatically convert into one unit of the company for no additional consideration. Each unit will consist of one post-consolidated common share and one share purchase warrant, with each share purchase warrant entitling the holder to acquire one additional post consolidated common share at a price of CAD 0.06 per share for a period of 12 months from the date the warrants are issued.