By Sheri Kasprzak
Atlanta, Nov. 24 - Rosetta Exploration Inc. said late Tuesday it sold C$3.5 million in a private placement.
The company issued 4,666,666 flow-through shares at C$0.75.
Acumen Capital Finance Partners Ltd., the placement agent in the deal, has the option to increase the size of the offering by C$1.5 million.
The deal is expected to close Dec. 14.
Rosetta is a Calgary, Alta.-based natural gas exploration company. The company plans to use the proceeds from the private placement for expenditures to facilitate its capital program, including drilling and seismic studies through 2004 and 2005.
| Issuer: | Rosetta Exploration Inc.
|
| Issue: | Stock
|
| Amount: | C$3.5 million
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| Shares: | 4,666,666
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| Price: | C$0.75
|
| Warrants: | No
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| Placement agent: | Acumen Capital Finance Partners Ltd.
|
| Announcement date: | Nov. 23
|
| Settlement date: | Dec. 14
|
| Stock price: | C$0.63 at close Nov. 23
|
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