By Sheri Kasprzak
New York, Dec. 29 - Emerald Bay Energy Inc. said it has completed its previously announced C$1 million private placement for C$875,000.
The company ultimately sold 2,916,667 flow-through shares at C$0.30 each.
The deal was first announced Dec. 14 as an offering of up to 3,333,333 flow-through shares under the same terms.
The proceeds will be used for drilling.
Emerald Bay, based out of Calgary, Alta., is an oil and natural gas exploration company.
| Issuer: | Emerald Bay Energy Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$875,000
|
| Shares: | 2,916,667
|
| Price: | C$0.30
|
| Warrants: | No
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 29
|
| Stock price: | C$0.26 at close Dec. 14
|
| Stock price: | C$0.22 at close Dec. 28
|
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