By Sheri Kasprzak
New York, March 1 - Bear Ridge Resources Ltd. priced a C$12.6 million private placement.
The offering includes up to 7 million Canadian Development Expenses flow-through shares at C$1.80 each with warrants for 8.4 million flow-through shares, exercisable at C$2.00 each for two years.
Connected to the deal, 1 million warrants issued in a December 2006 private placement will be exercised at C$1.80 each.
Proceeds will be used for development of the company's Canadian properties.
Calgary, Alta.-based Bear Ridge is an oil and natural gas exploration company.
| Issuer: | Bear Ridge Resources Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$12.6 million
|
| Shares: | 7 million
|
| Price: | C$1.80
|
| Warrants: | For 8.4 million shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$2.00
|
| Pricing date: | March 1
|
| Stock symbol: | Toronto: BER
|
| Stock price: | C$1.51 at close Feb. 28
|
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