By Sheri Kasprzak
New York, Dec. 15 - Deep Resources Ltd. said it has completed its previously announced private placement, with a fully exercised greenshoe, for C$6 million.
The company sold 7.5 million flow-through shares, including a greenshoe for 1.25 million shares exercised by placement agent Jennings Capital Inc., at C$0.80 each.
The deal was first announced Dec. 8 as a C$5 million offering of 6.25 million flow-through shares under the same terms.
Proceeds will be used for oil and natural gas exploration expenses.
Based in Calgary, Alta., Deep Resources in an oil and natural gas exploration and development company.
| Issuer: | Deep Resources Ltd.
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| Issue: | Flow-through shares
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| Amount: | C$6 million
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| Shares: | 7.5 million (includes greenshoe for 1.25 million shares)
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| Price: | C$80.00
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| Warrants: | No
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| Placement agent: | Jennings Capital Inc.
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| Announcement date: | Dec. 8
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| Settlement date: | Dec. 15
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| Stock price: | C$0.68 at close Dec. 7
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| Stock price: | C$0.68 at close Dec. 15
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