By Sheri Kasprzak
Atlanta, Feb. 3 - Transeuro Energy Corp. said it plans to head to the private placement market with a C$5.25 million offering.
The deal includes 7.5 million units at C$0.70 each. The units are comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.76 each for one year.
Based in Vancouver, B.C., Transeuro is an oil and gas exploration and development company. The proceeds from the offering will be used to develop existing properties and acquire additional properties. The remainder will be used for general working capital.
Issuer: | Transeuro Energy Corp.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$5.25 million
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Units: | 7.5 million
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Price: | C$0.70
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.76
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Pricing date: | Feb. 2
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Stock price: | C$0.75 at close Feb. 2
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