Deal sells units of shares with one-year warrants at C$0.05 per unit
By Devika Patel
Knoxville, Tenn., Oct. 25 - Emerald Bay Energy Inc. announced it settled a C$1.48 million private placement of units. The deal priced for C$1.2 million on Oct. 3.
The company sold 29.68 million units of one common share and one warrant at C$0.05 per unit.
Each one-year warrant will be exercisable at C$0.10, a 66.67% premium to the Oct. 2 closing share price of C$0.06.
Proceeds will be used for exploration and expansion of the company's South Texas property and general working capital needs.
Emerald Bay, based in Calgary, Alta., is an oil and natural gas exploration company.
| Issuer: | Emerald Bay Energy Inc.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | C$1,484,000
|
| Units: | 29.68 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Pricing date: | Oct. 3
|
| Settlement date: | Oct. 25
|
| Stock symbol: | TSX Venture: EBY
|
| Stock price: | C$0.06 at close Oct. 2
|
| Market capitalization: | C$5.67 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
