By Sheri Kasprzak
Atlanta, Dec. 10 - Rosetta Exploration Inc. said late Thursday it has closed a private placement for proceeds for C$5,500,125.
The company sold 7,333,500 class A flow-through shares at C$0.75 each.
Acumen Capital Finance Partners Ltd. exercised a greenshoe on the offering on Nov. 26 for 2,666,834 additional shares or C$2,000,125. Acumen may increase the size of the offering again to an additional C$2 million.
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: | Class A flow-through shares
|
| Amount: | C$5,500,125
|
| Shares: | 7,333,500
|
| Price: | C$0.75
|
| Warrants: | No
|
| Placement agent: | Acumen Capital Finance Partners Ltd.
|
| Greenshoe: | For an additional C$2 million
|
| Announcement date: | Nov. 23
|
| Settlement date: | Dec. 9
|
| Stock price: | C$0.63 at close Nov. 23
|
| Stock price: | C$0.63 at close Dec. 9
|
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