By Sheri Kasprzak
Atlanta, Nov. 29 - Eastshore Energy Ltd. announced Thursday it wrapped up a private placement for C$15 million.
The company sold 5,454,546 class A shares at C$2.75 each.
Underwriters GMP Securities Ltd., Jenning Capital Inc. and FirstEnergy Capital Corp. exercised a greenshoe in the deal for 1,818,182 class A shares.
The shares in the offering are subject to a four-month hold, which expires March 26, 2005.
Based in Calgary, Alta., Eastshore is an oil and gas exploration and development company. The company will use the proceeds from the deal for exploration and development at its Niton project, its West Edson Resource play and other prospects in the west-central Alberta area.
| Issuer: | Eastshore Energy Ltd.
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| Issue: | Class A shares
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| Amount: | C$15 million
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| Shares: | 5,454,546 million
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| Price: | C$2.75
|
| Warrants: | No
|
| Underwriters: | GMP Securities Ltd. (lead); Jennings Capital Inc.; FirstEnergy Capital Corp.
|
| Announcement date: | Nov. 25
|
| Settlement date: | Nov. 25
|
| Stock price: | C$3.10 at close Nov. 25
|
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