By Devika Patel
Knoxville, Tenn., Jan. 16 - Dynamic Resources Corp. said it plans a $1.5 million non-brokered private placement of units.
The company will sell units of one common share and one warrant at $0.05 per unit.
Each warrant will be exercisable at $0.08 for two years.
Proceeds will be used for the completion of the two Haynesville shale wells, with the balance of the funds used for tie-ins, pipelines, associated costs and facility completions in respect to the Sentell field project.
Las Vegas-based Dynamic is an oil and natural gas exploration company.
| Issuer: | Dynamic Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1.5 million
|
| Price: | $0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.08
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 16
|
| Stock symbol: | Pink Sheets: DYRFF
|
| Stock price: | $0.049 at close Jan. 15
|
| Market capitalization: | $7.17 million
|
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