By Devika Patel
Knoxville, Tenn., June 24 - Primera Energy Resources Ltd. said it took in C$1.5 million from a non-brokered private placement of units.
The company sold 7.5 million units at C$0.20 each.
The units consist of one common share and one warrant with each warrant exercisable at C$0.20 until June 23, 2010 and at C$0.22 between June 23, 2010 and June 23, 2011.
Proceeds will be used for the exploration and development of hydrocarbons and associated general and administrative expenses.
Based in Calgary, Alta., Primera is an energy company.
| Issuer: | Primera Energy Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 7.5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | June 23, 2011
|
| Warrant strike price: | C$0.20 until June 23, 2010; C$0.22 between June 23, 2010 and June 23, 2011
|
| Agent: | Non-brokered
|
| Settlement date: | June 24
|
| Stock symbol: | TSX Venture: PTT
|
| Stock price: | C$0.30 at close June 23
|
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