New Issue: Admiral Bay settles $4.18 million private placement of stock

By Sheri Kasprzak

New York, Jan. 10 - Admiral Bay Resources Inc. said it has completed a non-brokered private placement for $4,179,379.

The company sold 6,237,880 shares at $0.67 each.

The investors received warrants for 3,136,940 shares, exercisable at $1.20 each for one year.

Based in Toronto, Admiral Bay is an oil and natural gas exploration and development company.

Issuer:	Admiral Bay Resources Inc.
Issue:	Stock
Amount:	$4,179,379
Shares:	6,237,880
Price:	$0.67
Warrants:	For 3,136,940 shares
Warrant expiration:	One year
Warrant strike price:	$1.20
Placement agent:	Non-brokered
Settlement date:	Jan. 10
Stock price:	$0.815 at close Jan. 10

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