Deal sells units of shares with one-year warrants at C$0.02 per unit
By Devika Patel
Knoxville, Tenn., Dec. 16 – Emerald Bay Energy Inc. announced it plans a C$1 million private placement of units.
The company will sell 50 million units of one common share and one warrant at C$0.02 per unit.
Each one-year warrant will be exercisable at C$0.05, a 400% premium to the Dec. 15 closing share price of C$0.01.
Proceeds will be used to maintain and increase Emerald Bay's interest in the electrical power generation project and gas wells at Nevis, Alta.
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 million
|
| Units: | 50 million
|
| Price: | C$0.02
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.05
|
| Pricing date: | Dec. 16
|
| Stock symbol: | TSX Venture: EBY
|
| Stock price: | C$0.01 at close Dec. 15
|
| Market capitalization: | C$2.36 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.
