Dalmac Energy postpones C$2.5 million unit offering

By Sheri Kasprzak

New York, Dec. 22 - Dalmac Energy Inc. said it has put off its previously announced C$2.5 million private placement until the new year.

The company said in a statement released late Wednesday that there were delays in the anticipated completion date of the offering and market conditions were not ideal.

"The corporation will consider whether or not and, if so, on what terms, to proceed with an equity financing in the new year," the statement said.

Northern Securities Inc. and Wolverton Securities Ltd. had been the agents in the deal, in which the company planned to sell 2,272,727 units of one share and one half-share warrant. The whole warrants would have been exercisable at C$1.40 each for two years.

Based in Edmonton, Alta., Dalmac is an oil and natural gas exploration company.

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