By Sheri Kasprzak
New York, Oct. 19 - Stealth Ventures Ltd. said it has completed its previously announced private placement for C$13 million.
The company sold 11,304,348 units at C$1.15 each.
The units include one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$1.50 each through Oct. 19, 2007.
The offering was first announced Sept. 15 as a C$8 million deal composed of up to 6,956,521 units under the same terms and was upsized to C$13 million on Oct. 4.
Proceeds will be used for operations at the company's Stellarton and Cumberland basin coal-bed methane properties in Nova Scotia.
Based in Calgary, Alta., Stealth is an oil and natural gas exploration company.
| Issuer: | Stealth Ventures Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$13 million
|
| Units: | 11,304,348
|
| Price: | C$1.15
|
| Warrants: | One warrant per unit
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| Warrant expiration: | Oct. 19, 2007
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| Warrant strike price: | C$1.50
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| Placement agent: | Non-brokered
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| Pricing date: | Sept. 15
|
| Upsized: | Oct. 4
|
| Settlement date: | Oct. 19
|
| Stock price: | C$1.25 at close Sept. 15
|
| Stock price: | C$1.40 at close Oct. 4
|
| Stock price: | C$1.30 at close Oct. 19
|
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