By Sheri Kasprzak
New York, Dec. 5 - Trans-Orient Petroleum Ltd. priced a $6 million private placement.
The offering includes up to 6 million units of one share and one half-share warrant.
Each whole warrant is exercisable at $1.35 for 18 months.
The company plans to sell the units to a group of accredited investors before the end of the year.
Vancouver, B.C.-based Trans-Orient is an oil and natural gas exploration company.
| Issuer: | Trans-Orient Petroleum Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | $6 million
|
| Units: | 6 million
|
| Price: | $1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | $1.35
|
| Pricing date: | Dec. 5
|
| Stock symbol: | OTCBB: TOPLF
|
| Stock price: | $1.40 at close Dec. 5
|
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