By Sheri Kasprzak
Atlanta, Feb. 17 - Transeuro Energy Corp. sold C$5,383,000 in a private placement of units, an amount that exceeded the originally planned C$5.25 million offering.
The company sold 7.69 million units at C$0.70 each. The units are comprised of one share and one half-share warrant.
The whole warrants allow for an additional share at C$0.76 each for one year.
The deal was first announced Feb. 2 for 7.5 million units at C$0.70 each.
Based in Vancouver, B.C., Transeuro is an oil and gas exploration and development company. The proceeds from the offering will be used to develop existing properties and acquire additional properties. The remainder will be used for general working capital.
| Issuer: | Transeuro Energy Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$5,383,000
|
| Units: | 7.69 million
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.76
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 17
|
| Stock price: | C$0.75 at close Feb. 2
|
| Stock price: | C$0.85 at close Feb. 17
|
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