By Laura Lutz
Des Moines, May 15 - DVD Investments Ltd. arranged a private placement of units for up to C$7.5 million, and a minimum of C$4 million.
The company plans to sell units of one share and one half-share warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.83 for 18 months.
The placement is expected to settle alongside DVD's reverse takeover by Mooncor Energy Inc. The placement is conditional on closing of the acquisition, but the acquisition does not depend on settlement of the placement.
Proceeds will be used for drilling, land acquisitions and general operating expenses.
Mooncor is a Toronto-based oil and gas exploration and production company.
| Issuer: | DVD Investments Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$7.5 million (maximum); C$4 million (minimum)
|
| Units: | 15 million (maximum); 8 million (minimum)
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.83
|
| Pricing date: | May 15
|
| Stock symbol: | TSX Venture: DVD.H
|
| Stock price: | C$0.60 at close May 15
|
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