Published on 11/16/2004 in the Prospect News PIPE Daily.
New Issue: EurOmax wraps private placement for C$1.9 million of shares, warrants
By Sheri Kasprzak
Atlanta, Nov. 16 - EurOmax Resources Ltd. said Tuesday it has closed a C$1,917,562.50 private placement.
The company sold 5,478,750 units of one share and one warrant for C$0.35 each.
The warrants allow for the purchase of an additional share at C$0.45 until the earlier of Nov. 15, 2006 or if the common shares have a closing price more than C$0.70 for 20 consecutive trading days after May 15, 2005.
EurOmax is a Vancouver, B.C.-based oil and gas exploration company. It plans to use the proceeds from the private placement for the development of its natural resource properties in southeastern Europe and for general corporate purposes.
| Issuer: | EurOmax Resources Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,917,562.50
|
| Shares: | 5,478,750 units
|
| Price: | C$0.35
|
| Warrants: | One warrant
|
| Warrant expiration: | The earlier of Nov. 15, 2006 or if common shares close at more than C$0.70 for 20 trading days after May 15, 2005
|
| Warrant strike price: | C$0.45
|
| Announcement date: | Oct. 28
|
| Settlement date: | Nov. 15
|
| Stock price: | C$0.37 at close Oct. 28
|
| Stock price: | C$0.37 at close Nov. 15
|
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