By Laura Lutz
Des Moines, June 4 - Surge Resources Inc. intends to complete a private placement of shares for C$8.5 million.
The company plans to sell 10 million common shares at C$0.85 each.
Proceeds will be used for work on four petroleum prospecting licenses that the company plans to acquire and for general corporate purposes.
The acquisition of the licenses will not close unless the company raises at least C$7 million from a private placement.
Surge is a resource exploration company based in Calgary, Alta.
| Issuer: | Surge Resources Inc.
|
| Issue: | Shares
|
| Amount: | C$8.5 million
|
| Shares: | 10 million
|
| Price: | C$0.85
|
| Warrants: | No
|
| Pricing date: | June 4
|
| Stock symbol: | TSX Venture: SRH.H
|
| Stock price: | C$0.98 at close June 4
|
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