By Laura Lutz
Des Moines, June 13 - Canadian Spirit Resources Inc. priced two private placements of units and flow-through shares for a total of up to C$3.1 million.
One placement will consist of up to 2 million units of one share and one half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.10 for one year.
In the other placement, the company will sell 1 million flow-through shares at C$1.10 each.
The placements will be concurrent and non-brokered.
Proceeds will be used for the first phase of the company's pilot production project at Farrell Creek in British Columbia.
Canadian Spirit is a natural gas company based in Calgary, Alta.
Units
Issuer: | Canadian Spirit Resources Inc.
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Issue: | Units of one share and one half-share warrant
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Amount: | C$2 million
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Units: | 2 million
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Price: | C$1.00
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$1.10
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Agent: | Non-brokered
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Pricing date: | June 13
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Stock symbol: | TSX Venture: SPI
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Stock price: | C$0.99 at close June 12
|
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Flow-through shares
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Issuer: | Canadian Spirit Resources Inc.
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Issue: | Flow-through shares
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Amount: | C$1.1 million
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Units: | 1 million
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Price: | C$1.10
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Warrants: | No
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Agent: | Non-brokered
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Pricing date: | June 13
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Stock symbol: | TSX Venture: SPI
|
Stock price: | C$0.99 at close June 12
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