By Susanna Moon
Chicago, June 26 - Vast Exploration Inc. said it raised C$4.2 million in a private placement of units, up from the previously announced amount.
Vast issued 16.9 million units for C$0.25 each. Units consist of one share and one warrant. Warrants are exercisable at C$0.27 each until June 22, 2009.
The deal was upsized to "satisfy demand," according to a press release.
Proceeds from the sale will be used for working capital and for exploration and development.
Vast is an oil and gas exploration and production company based in Calgary, Alta.
| Issuer: | Vast Exploration Inc.
|
| Issue: | Units
|
| Amount: | C$4.2 million
|
| Units: | 16.9 million
|
| Price: | C$0.25
|
| Warrants: | One share per unit
|
| Warrant expiration: | June 22, 2009
|
| Warrant strike price: | C$0.27
|
| Settlement date: | June 26
|
| Stock symbol: | TSX Venture: VST
|
| Stock price: | C$0.255 at close June 25
|
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