By Sheri Kasprzak
New York, Oct. 18 - Qeva Group Inc. said it has completed a private placement of units for C$1,497,300.
The company sold 9,981,992 units at C$0.15 each.
The units include one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$0.20 each through April 15, 2006.
The proceeds will be used to buy a domestic oil and gas property and to support the company's activities in the North Sea.
In other news, J. Arthur Bray was appointed as chief financial officer, a statement from Qeva said.
Based in Calgary, Alta., Qeva is an oil and natural gas exploration company with operations in Russia, Kazakhstan, Cypress, Peru, Colombia and Argentina.
| Issuer: | Qeva Group Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,497,300
|
| Units: | 9,981,992
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | April 15, 2006
|
| Warrant strike price: | C$0.20
|
| Settlement date: | Oct. 18
|
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