LNG wraps warrant placement; Stornoway raises C$5 million; Tournigan seeks exploration funding

By Stephanie N. Rotondo

Portland, Ore., June 29 - LNG Energy Ltd. said it had wrapped a private placement of special warrants on Tuesday, pocketing more than C$20 million.

The warrants are convertible into stock. Proceeds will be used, in part, for exploration.

Among other completed financings, Stornoway Diamond Corp. settled a C$5 million private placement of flow-through shares.

Meanwhile, Tournigan Energy Ltd. announced its plan to raise C$3 million via a private placement of units. The funding will be used for work at its projects in Slovakia.

And, DigitalPost Interactive Inc. upsized a previously announced private placement of units. The company will now raise up to $2.5 million, versus the original pricing amount of $1.8 million.

LNG wraps warrant placement

LNG Energy, a Vancouver, B.C.-based oil and gas exploration company, took in C$20.1 million from a private placement of special warrants, according to a press release.

The company issued approximately 80.4 million of the warrants at C$0.25 each. The warrants are convertible into 1.05 common shares.

Proceeds will be used for exploration and development, as well as for working capital and general corporate purposes.

The company did not return calls seeking comment on Tuesday.

LNG's equity (TSX Venture: LNG) dipped half a cent, or 1.96%, to C$0.25. Market capitalization is C$42.92 million.

Stornoway raises C$5 million

Stornoway Diamond wrapped a C$5 million private placement of flow-through common shares, the company announced.

The Vancouver, B.C.-based company sold approximately 8.77 million of the shares at C$0.57 each.

Company insiders subscribed for 86,824 of the shares.

Proceeds will be used to fund Canadian exploration programs, including at the Renard Diamond Project in Quebec.

The company did not return calls seeking comment on Tuesday.

Stornoway's stock (Toronto: SWY) declined 3 cents, or 4.69%, to C$0.61. Market capitalization is C$176.08 million.

Tournigan seeks exploration funds

Tournigan Energy said it would raise C$3 million via a non-brokered private placement of units.

The company intends to sell 30 million of the units at C$0.10 each. The units will hold one common share and one half-share warrant.

Whole warrants are exercisable at C$0.20 for two years. The strike price represents a 48.14% premium over the C$0.135 closing price on June 28.

Proceeds will be used to advance the high-grade uranium project in Slovakia, as well as for working capital.

The company could not be reached for comment on Tuesday.

Tournigan's shares (TSX Venture: TVC) dropped 1½ cents, or 11.11%, to C$0.12. Market capitalization is C$14.72 million.

Tournigan Energy is a White Rock, B.C.-based uranium mineral exploration company.

DigitalPost ups unit sale

DigitalPost Interactive, an Irvine, Calif.-based digital media-sharing and social-networking company, increased the size of a previously announced private placement, according to a regulatory filing.

The deal was announced May 7.

The company now intends to raise up to $2.5 million, up from the previous maximum amount of $1.8 million.

Since May 3, DigitalPost has taken in a total of $862,975, selling approximately 8.63 million units.

The company is selling up to 25 million units at $0.10 each. The units consist of four common shares and two series of warrants.

The series A warrants are exercisable at $0.05, while the series B warrants are exercisable at $0.10. both series expire after five years.

The company did not return calls seeking comment on Tuesday.

DigitalPost's stock (OTCBB: DGLP) fell $0.001, or 2.13%, to $0.046. Market capitalization is $6.35 million.

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