By Sheri Kasprzak
New York, May 11 - True North Energy Corp. has settled a $1 million private placement.
The company issued 1.25 million units at $0.80 apiece.
The units are comprised of one share and one warrant. Each warrant is exercisable at $1.60 for three years.
Houston-based True North is an oil and natural gas exploration, acquisition and production company.
| Issuer: | True North Energy Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | $1 million
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| Units: | 1.25 million
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| Price: | $0.80
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | $1.60
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| Settlement date: | May 9
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| Stock symbol: | OTCBB: TNEN
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| Stock price: | $1.05 at close May 9
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