By Devika Patel
Knoxville, Tenn., June 12 - BNP Resources Inc. said it plans a C$1 million private placement of units.
The company will sell 10 million units of one class A share and one half-share warrant at C$0.10 per unit.
Each whole warrant will be exercisable at C$0.10 for six months.
Settlement is expected June 30.
Proceeds will be used to reduce debt, satisfy outstanding payables and fund BNP's operations.
BNP is an oil and natural gas exploration and development company based in Calgary, Alta.
| Issuer: | BNP Resources Inc.
|
| Issue: | Units of one class A share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Six months
|
| Warrant strike price: | C$0.10
|
| Pricing date: | June 12
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: BNX-A
|
| Stock price: | C$0.07 at close June 12
|
| Market capitalization: | C$1.22 million
|
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