By Devika Patel
Knoxville, Tenn., May 23 - Stealth Ventures Ltd. announced that it has re-priced a C$20 million private placement of units that priced on April 14.
The company intends to sell units at C$0.75 apiece, lowered from the initial price of C$0.80. Each unit consists of one common share and one half-share warrant.
Each whole warrant is exercisable at C$0.85, lowered from the initial C$1.00, for two years.
A third year will be added to the warrants if Stealth receives Tier One status on the TSX Venture Exchange or begins listing its shares on the Toronto Stock Exchange.
The warrants initially were to have expired in 18 months.
The deal is being conducted by a syndicate of agents led by D&D Securities Co. and SMH Capital Inc. and including Union Securities Ltd.
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$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.85
|
| Agents: | D&D Securities Co. (co-lead), SMH Capital Inc. (co-lead), Union Securities Ltd.
|
| Pricing date: | April 14
|
| Amended: | May 23
|
| Stock symbol: | TSX Venture: SLV
|
| Stock price: | C$0.82 at close on April 11
|
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