By Sheri Kasprzak
New York, Sept. 27 - Texalta Petroleum Ltd. said it has closed an oversubscribed private placement for C$1,131,949.
The company sold 7,546,326 units at C$0.15 each.
The units include one flow-through share and one warrant. The warrants are exercisable at C$0.35 each for one year.
The deal was first announced July 13 as a C$1 million offering of up to 6,666,666 units under the same terms.
The proceeds will be used for drilling on properties in Saskatchewan in 2005 and 2006.
Calgary, Alta.-based Texalta is an oil and natural gas exploration company.
| Issuer: | Texalta Petroleum Ltd.
|
| Issue: | Units of one flow-through share and one warrant
|
| Amount: | C$1,131,949
|
| Units: | 7,546,326
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Pricing date: | July 13
|
| Settlement date: | Sept. 26
|
| Stock price: | C$0.095 at close July 13
|
| Stock price: | C$0.18 at close Sept. 26
|
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