By Devika Patel
Knoxville, Tenn., May 21 - Dynamic Resources Corp. said it completed a $2.13 million private placement of units, which priced Feb. 6.
The company sold 42,542,000 units of one common share and one warrant at $0.05 per unit.
Each warrant will be exercisable at $0.10 for two years.
Proceeds will be used for additional development work on the company's Louisiana project and for working capital.
Las Vegas-based Dynamic is an oil and natural gas exploration company.
| Issuer: | Dynamic Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $2,127,100
|
| Units: | 42,542,000
|
| Price: | $0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.10
|
| Pricing date: | Feb. 6
|
| Settlement date: | May 21
|
| Stock symbol: | Pink Sheets: DYRFF
|
| Stock price: | C$0.135 at close May 20
|
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