By Sheri Kasprzak
Atlanta, Feb. 4 - Delta Oil & Gas Inc. said it has closed a private placement of units for $1.2 million.
The company sold 1.2 million units at $1 each to three investors. The units are comprised of one share and one warrant. The warrants allow for an additional share at $1.50 each for five years.
Based in Seattle, Delta Oil is an oil and gas exploration company.
| Issuer: | Delta Oil & Gas Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | $1.2 million
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| Units: | 1.2 million
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| Price: | $1.00
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | $1.50
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| Settlement date: | Feb. 1
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| Stock price: | $1.13 at close Feb. 1
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