Published on 4/8/2005 in the Prospect News PIPE Daily.
New Issue: Eden Energy closes $5.76 million private placement of units
By Sheri Kasprzak
Atlanta, April 8 - Eden Energy Corp. said it has completed a private placement of units for $5,760,100.
The company sold 3,840,067 units at $1.50 each.
The units are comprised of one share and one half-share warrant. The full warrants allow for an additional share at $2.00 each through April 4, 2006.
Based in Vancouver, B.C., Eden is an oil and natural gas exploration and acquisition company. It plans to use the proceeds from the offering for working capital and for exploration on properties it leases in Nevada.
| Issuer: | Eden Energy Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | $5,760,100
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| Units: | 3,840,067
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| Price: | $1.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | April 4, 2006
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| Warrant strike price: | $2.00
|
| Settlement date: | April 5
|
| Stock price: | $2.55 at close April 5
|
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