By Laura Lutz
Des Moines, May 11 - Exceed Capital Holdings Ltd. completed a first tranche of its private placement of units for C$1.03 million.
The company sold 10.3 million units of one share and one warrant at C$0.10 per unit. Each warrant will be exercisable at C$0.20 for 18 months.
The full placement, which priced on April 18, is expected to include up to 15 million units for proceeds of up to C$1.5 million.
Proceeds will be used for drilling and working capital.
Leede Financial Markets Inc. will act as agent.
Exceed is an oil and gas exploration company based in Calgary, Alta.
| Issuer: | Exceed Capital Holdings Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.03 million
|
| Units: | 10.3 million
|
| Price: | C$0.10
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Leede Financial Markets Inc.
|
| Pricing date: | April 18
|
| Settlement date: | May 11
|
| Stock symbol: | TSX Venture: XED.A
|
| Stock price: | C$0.135 at close May 11
|
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