By Laura Lutz
Des Moines, Sept. 21 - Stealth Ventures Ltd. settled a C$7,360,025 closing of an upsized private placement of units, which the company plans to increase by another C$1 million.
The non-brokered deal priced as a C$5 million placement on Aug. 31.
The total placement is expected to include 5,225,016 units of one share and one half-share warrant for C$1.60 apiece. The warrants will be exercisable at C$2.30 for 18 months.
The expiry of the warrants may be accelerated to 21 days if the company's shares close at or above C$3.75 for 20 consecutive days.
The additional C$1 million closing of the placement, which will include 625,000 units, will be settled upon regulatory acceptance.
Stealth Ventures is a Calgary, Alta.-based oil and gas company.
| Issuer: | Stealth Ventures Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$8,360,025
|
| Units: | 5,225,016
|
| Price: | C$1.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.30
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 21 (for C$7,360,025.60)
|
| Stock symbol: | TSX Venture: SLV
|
| Stock price: | C$1.57 at close on Aug. 31
|
| Stock price: | C$1.40 at close on Sept. 21
|
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