By Sheri Kasprzak
New York, March 29 - Eternal Energy Corp. closed a $4,333,000 tranche of its previously announced private placement, bringing to $5,938,000 the total proceeds raised in the deal.
The company sold 8,666,000 units at $0.50 apiece with each unit consisting of one share and one warrant.
The warrants allow for the purchase of another share at $1.00 each for two years.
The first tranche, for $1,605,000, or 3.21 million units, closed March 8. When the first tranche closed, Eternal's stock closed at $1.22.
Based in Littleton, Colo., Eternal is an oil and natural gas exploration company.
| Issuer: | Eternal Energy Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $4,333,000
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| Units: | 8,666,000
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| Price: | $0.50
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| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $1.00
|
| Settlement date: | March 29
|
| Stock symbol: | OTCBB: EERG
|
| Stock price: | $1.29 at close March 29
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