By Devika Patel
Knoxville, Tenn., April 14 - Stealth Ventures Ltd. announced that it has retained a syndicate of agents led by D&D Securities Co. and SMH Capital Inc. and including Union Securities Ltd. to offer a C$20 million private placement of units.
The company intends to sell units at C$0.80 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$1.00 for 18 months.
Proceeds will be used to fund and accelerate ongoing development activities on Stealth's Colorado Group shale gas properties.
Stealth is a Calgary, Alta., oil and gas company.
| Issuer: | Stealth Ventures Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$20 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.00
|
| Agents: | D&D Securities Co. (co-lead), SMH Capital Inc. (co-lead), Union Securities Ltd.
|
| Pricing date: | April 14
|
| Stock symbol: | TSX Venture: SLV
|
| Stock price: | C$0.82 at close on April 11
|
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