Non-brokered deal funds exploration of company's European properties
By Devika Patel
Knoxville, Tenn., Feb. 22 - EurOmax Resources Ltd. said it plans a non-brokered private placement of units. The deal is slated to raise C$7.88 million.
The company will sell 22.5 million units of one common share and one half-share warrant at C$0.35 per unit.
Each whole warrant will be exercisable at C$0.50 for one year. The strike price is a 51.52% premium to C$0.33, the Feb. 21 closing share price.
Proceeds will be used for the company's exploration programs in Southeastern Europe and general working capital purposes.
EurOmax is an oil, gas and mineral company based in Vancouver, B.C.
| Issuer: | EurOmax Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$7,875,000
|
| Units: | 22.5 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 22
|
| Stock symbol: | TSX Venture: EOX
|
| Stock price: | C$0.33 at close Feb. 21
|
| Market capitalization: | C$40.82 million
|
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