GeoGlobal Resources raises $847,660 through private placement of units

Deal sells 3,853 units of 1,000 shares, 1,500 warrants at $220 apiece

By Devika Patel

Knoxville, Tenn., May 18 - GeoGlobal Resources Inc. said it took in $847,660 through a private placement of units on May 17, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company sold 3,853 units of 1,000 common shares and 1,500 warrants at $220.00 per unit.

Half of the warrants are each exercisable at $0.26 until July 31, 2012, with the remainder exercisable at $0.30 until March 31, 2013. The strike prices represent 23.81% and 42.86% premiums to the April 13 closing share price of $0.21.

GeoGlobal is an oil and gas company with headquarters in Calgary, Alta.

Issuer:	GeoGlobal Resources Inc.
Issue:	Units of 1,000 common shares and 1,500 warrants
Amount:	$847,660
Units:	3,853
Price:	$220.00
Warrants:	1,500 warrants (per unit)
Warrant expiration:	July 31, 2012 (for 750 warrants), March 31, 2013 (for 750 warrants)
Warrant strike prices:	$0.26 (for 750 warrants), $0.30 (for 750 warrants)
Settlement date:	May 17
Stock symbol:	Amex: GGR
Stock price:	$0.21 at close May 16
Market capitalization:	$26.9 million

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