By Sheri Kasprzak
New York, June 16 - Defiant Resources Corp. intends to raise up to C$10,375,000 in a private placement.
The offering includes up to 2.5 million flow-through shares at C$4.15 apiece.
The deal is being placed through a syndicate of underwriters led by Dundee Securities Corp. and including Clarus Securities Inc., Raymond James Ltd., MGI Securities Inc. and Westwind Partners Inc.
The placement is scheduled to close June 29.
Proceeds will be used for the company's 2006 capital program.
Based in Calgary, Alta., Defiant is an oil and natural gas exploration company.
Issuer: | Defiant Resources Corp.
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Issue: | Flow-through shares
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Amount: | C$10,375,000
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Shares: | 2.5 million
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Price: | C$4.15
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Warrants: | No
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Underwriters: | Dundee Securities Corp. (lead), Clarus Securities Inc., Raymond James Ltd., MGI Securities Inc. and Westwind Partners Inc.
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Pricing date: | June 16
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Settlement date: | June 29
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Stock symbol: | Toronto: DFR
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Stock price: | C$3.34 at close June 16
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