Published on 7/26/2010 in the Prospect News PIPE Daily.
New Issue: Triple 8 concludes C$9.86 million private placement of stock and units
By Devika Patel
Knoxville, Tenn., July 26 - Triple 8 Energy Ltd. said it raised C$9.86 million in a fully subscribed non-brokered private placement of stock and units. The deal priced for C$10 million on June 25.
The company sold 112,758,714 common shares at C$0.06 each. It also sold 51.5 million units of one common share and a warrant at C$0.06 per unit.
The whole warrants are exercisable at C$0.10 for five years.
Triple 8 is an oil and gas company based in Calgary, Alta.
Issuer: | Triple 8 Energy Ltd.
|
Issue: | Common shares, units of one common share and a warrant
|
Amount: | C$9,855,523
|
Price: | C$0.06
|
Agent: | Non-brokered
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Pricing date: | June 25
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Settlement date: | July 23
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Stock symbol: | TSX Venture: TEE
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Stock price: | C$0.10 at close June 25
|
Market capitalization: | C$3.49 million
|
|
Shares
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Amount: | C$6,765,523
|
Shares: | 112,758,714
|
Warrants: | No
|
|
Units
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Amount: | C$3.09 million
|
Units: | 51.5 million
|
Warrants: | One warrant per unit
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Warrant expiration: | Five years
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Warrant strike price: | C$0.10
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