New York, Sept. 15 - Stealth Ventures Ltd. said it has agreed an C$8 million private placement of units.
The company will sell 6,956,522 units at C$1.15 each. The units are made up of one common share and half a share purchase warrant. Full warrants are to buy a share for C$1.50 for two years from closing.
Stealth, a Calgary, Alta., oil and gas company, will use proceeds to fund operations including the program at its Stellarton and Cumberland Basin coal-bed methane properties in Nova Scotia.
| Issuer: | Stealth Ventures Ltd.
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| Issue: | Units of stock and 0.5 warrants
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| Amount: | C$8 million
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| Units: | 6,956,522
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| Price: | C$1.15
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| Warrants: | 0.5 warrants per unit
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| Warrant strike price: | C$1.50
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| Warrant tenor: | 2 years
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| Pricing date: | Sept. 15
|
| Stock price: | C$1.25 at close Sept. 15
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