Offering to finance evaluation, acquisition of shale gas and oil plays
By Devika Patel
Knoxville, Tenn., Oct. 28 - Realm Energy International Corp. said it plans a non-brokered private placement of units with Quantum Partners LP. The deal will raise C$6 million.
The company will sell 10 million units at C$0.60 apiece. Each unit consists of one common share and one half-share warrant.
Each whole warrant is exercisable at C$0.95 for two years. The strike price reflects a 31.94% premium to C$0.72, the Oct. 27 closing share price.
Proceeds will be used to continue the technical evaluation and acquisition of shale gas and shale oil plays throughout continental Europe and for general working capital purposes.
Realm Energy is a Vancouver, B.C.-based energy company focused on the exploration and development of major shale plays throughout Europe and emerging countries.
| Issuer: | Realm Energy International Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6 million
|
| Units: | 10 million
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.95
|
| Agent: | Non-brokered
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| Investor: | Quantum Partners LP
|
| Pricing date: | Oct. 28
|
| Stock symbol: | TSX Venture: RLM
|
| Stock price: | C$0.72 at close Oct. 27
|
| Market capitalization: | C$32.76 million
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