By Sheri Kasprzak
New York, Jan. 13 - Oromin Explorations Ltd. said it has completed a non-brokered private placement for C$1,062,534.
The company sold 1,250,040 units at C$0.85 each.
The units include one share and one half-share warrant. The whole warrants are exercisable at C$1.20 each for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$2.40 for more than 15 consecutive trading days.
Based in Vancouver, B.C., Oromin is an oil and natural gas exploration company.
| Issuer: | Oromin Explorations Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,062,534
|
| Units: | 1,250,040
|
| Price: | C$0.85
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.20
|
| Placement agent: | Non-brokered
|
| Settlement date: | Jan. 12
|
| Stock symbol: | TSX Venture: OLE
|
| Stock price: | C$1.18 at close Jan. 12
|
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