By Sheri Kasprzak
New York, Feb. 23 - Enterprise Oil Ltd. said it has concluded its previously announced private placement for C$5,267,460, which included the exercise of a greenshoe.
The company sold 4,788,600 units at C$1.10 each, including the over-allotment option for 420,000 units exercised by placement agents Research Capital Corp. and Westwind Partners Inc.
Each unit includes one share and one warrant. The warrants are exercisable at C$1.50 each through Feb. 22, 2007.
The deal priced Jan. 25 as a C$3.08 million offering of 2.8 million units under the same terms.
Proceeds will be used for acquisitions and general working capital.
Based in St. Albert, Alta., Enterprise is an oil and natural gas exploration and development company.
| Issuer: | Enterprise Oil Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$5,267,460
|
| Units: | 4,788,600 (includes greenshoe for 420,000 units)
|
| Price: | C$1.10
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| Warrants: | One warrant per unit
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| Warrant expiration: | Feb. 22, 2007
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| Warrant strike price: | C$1.50
|
| Placement agents: | Research Capital Corp. and Westwind Partners Inc.
|
| Pricing date: | Jan. 25
|
| Settlement date: | Feb. 23
|
| Stock symbol: | TSX Venture: EON
|
| Stock price: | C$1.18 at close Jan. 25
|
| Stock price: | C$2.31 at close Feb. 22
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