D&D Securities helps in funding Bakken lands exploration, development
By Devika Patel
Knoxville, Tenn., March 3 - Guardian Exploration Inc. announced it will conduct a private placement of units. The C$1.5 million will be conducted through D&D Securities Inc.
The company will sell 15 million units at C$0.10 each. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.25 for 18 months.
The strike price reflects a 177.78% premium to the March 2 closing share price of C$0.09.
Settlement is expected March 30.
Proceeds will be used for exploration and development expenditures on the Montana Bakken lands, where the company has purchased an additional 6,025 acres, and for working capital purposes.
Calgary, Alta.-based Guardian acquires, explores and develops resource properties.
| Issuer: | Guardian Exploration Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 15 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | D&D Securities Inc.
|
| Pricing date: | March 3
|
| Settlement date: | March 30
|
| Stock symbol: | TSX Venture: GX
|
| Stock price: | C$0.09 at close March 2
|
| Market capitalization: | C$4.97 million
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