By Devika Patel
Knoxville, Tenn., Nov. 16 - Exploration Drilling International Inc. said it has completed a €650,000 private placement of units.
The company sold 3.25 million units of one share and one warrant at €0.20 per unit. Each warrant will be exercisable at $0.35 for two years.
Proceeds will be used as general working capital and to finance the company's business operations.
Exploration Drilling is based in Blaine, Wash.
| Issuer: | Exploration Drilling International Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | €650,000
|
| Units: | 3.25 million
|
| Price: | €0.20
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.35
|
| Settlement date: | Nov. 16
|
| Stock symbol: | OTCBB: EXDL
|
| Stock price: | $0.44 at close Nov. 15
|
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