By Sheri Kasprzak
Atlanta, Jan. 12 - EMM Energy Inc. concluded its C$1,407,925 private placement.
The company received agreements for 297,233 flow-through shares at C$0.75 each and 1.58 million units at C$0.75 each.
The units include one share and one half-share warrant. The whole warrants allow for an additional share at C$1 for two years.
EMM Energy is a Calgary, Alta.-based oil and natural gas exploration and production company. It plans to use the proceeds from the offering for its ongoing drilling and development program, and for working capital needs.
| Issuer: | EMM Energy Inc.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$1,407,925
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| Settlement date: | Jan. 11
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| Stock price: | C$0.60 at close Jan. 7 (last trade)
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| Flow-through shares
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| Issue: | Flow-through shares
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| Shares: | 297,233
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| Price: | C$0.75
|
| Warrants: | No
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|
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| Units
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| Issue: | Units of one share and one half-share warrant
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| Units: | 1.58 million
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| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$1
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