By Laura Lutz
Des Moines, April 2 - Transeuro Energy Corp. settled its previously announced private placement of units for C$46,607,149, down slightly from the C$46,617,237 deal size that was announced on March 20.
The placement settled in Norwegian kroner rather than Canadian dollars with a final unit price of NOK 3.22, not C$0.61 as previously announced. The change in unit price is the reason for the changed deal size.
The company sold 76,421,700 units of one share and one warrant. Each warrant will be exercisable at NOK 3.22 until Dec. 31, 2007. The warrant strike price was also changed from C$0.61.
On March 20, the company added 1.5 million units to the C$82.35 million private placement of 135 million shares at C$0.61 each it announced on March 7. The company then raised the number of units to 76,421,700 on March 21.
The placement was led by DnB Nor Markets, DnB NOR Bank ASA and Pareto Securities ASA.
As of March 20, the company expected the units to be sold to institutional and professional investors in Norway and one Canadian investor.
Proceeds will be used for exploration and advancement of the company's properties in Canada, Armenia, Ukraine and Papua New Guinea and for general working capital.
Transeuro is an oil and natural gas company based in Vancouver, B.C.
| Issuer: | Transeuro Energy Corp.
|
| Issue: | Units
|
| Amount: | C$46,607,149
|
| Units: | 76,421,700
|
| Price: | NOK 3.22
|
| Warrants: | One per unit
|
| Warrant expiration: | Dec. 31, 2007
|
| Warrant strike price: | NOK 3.22
|
| Managers: | DnB Nor Markets, DnB NOR Bank ASA, Pareto Securities ASA
|
| Pricing date: | March 7
|
| Amended: | March 20
|
| Settlement date: | April 2
|
| Stock symbol: | TSX Venture: TSU
|
| Stock price: | C$0.62 at close March 7
|
| Stock price: | C$0.55 at close March 20
|
| Stock price: | C$0.58 at close April 2
|
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