Kereco Energy settles C$19.35 million private placement of shares

By Laura Lutz

Washington, Feb. 16 - Kereco Energy Ltd. closed a private placement of flow-through shares for C$19.35 million, including a greenshoe.

The company issued 2.25 million flow-through shares in the deal. Full terms were not announced.

A syndicate led by GMP Securities LP acted as underwriters.

Proceeds will be used for the company's 2008 exploration programs.

Kereco is a natural gas company based in Calgary, Alta.

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