Published on 3/22/2010 in the Prospect News PIPE Daily.
New Issue: Exall Energy settles C$3.2 million brokered private placement of units
By Devika Patel
Knoxville, Tenn., March 22 - Exall Energy Corp. said it completed a C$3.2 million private placement of units through D & D Securities Co.
The company sold 4,929,851 units at C$0.65 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.80 for one year.
Proceeds will be used for drilling, working capital and general corporate purposes.
Based in Calgary, Alta., Exall is a junior oil and gas company.
Issuer: | Exall Energy Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$3,204,403
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Units: | 4,929,851
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Price: | C$0.65
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.80
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Agent: | D & D Securities Co.
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Settlement date: | March 22
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Stock symbol: | Toronto: EE
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Stock price: | C$0.63 at close March 19
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Market capitalization: | C$29.1 million
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