By Devika Patel
Knoxville, Tenn., Feb. 4 - Diaz Resources Ltd. said it plans to conduct a private placement of units for between C$1.2 million and C$1.77 million. Northern Securities Inc. is the agent.
The company will sell between 8 million and 11.8 million units of one common share and one half-share warrant at C$0.15 each on a best-efforts basis.
Each full warrant is exercisable at C$0.20 for two years.
Proceeds will be used for drilling and working capital.
Diaz is an oil and gas exploration and production company based in Calgary, Alta.
| Issuer: | Diaz Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.2 million (minimum), C$1.77 million (maximum)
|
| Units: | 8 million (minimum), 11.8 million (maximum)
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.20
|
| Warrant expiration: | Two years
|
| Agent: | Northern Securities Inc.
|
| Pricing date: | Feb. 4
|
| Stock symbol: | Toronto: DZR
|
| Stock price: | C$0.15 at close Feb. 3
|
| Market capitalization: | C$11.5 million
|
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