Published on 2/24/2006 in the Prospect News PIPE Daily.
New Issue: Marion Energy to settle A$3.88 million private placement of stock
By Sheri Kasprzak
New York, Feb. 24 - Marion Energy Ltd. said it is gearing up to close a private placement for A$3,875,027.
The company plans to sell 5,615,982 shares at A$0.69 each to Swisspartners Investment Ltd.
The offering is expected to close within the next two to three days.
Based in Victoria, Australia, Marion is a natural gas exploration company.
| Issuer: | Marion Energy Ltd.
|
| Issue: | Stock
|
| Amount: | A$3,875,027
|
| Shares: | 5,615,982
|
| Price: | A$0.69
|
| Warrants: | No
|
| Investor: | Swisspartners Investment Ltd.
|
| Announcement date: | Feb. 24
|
| Stock symbol: | Australia: MAE
|
| Stock price: | A$0.835 at close Feb. 24
|
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