Company sells 2.3 million units of one share, one three-year warrant
By Devika Patel
Knoxville, Tenn., Sept. 16 - Galleon Energy Inc. said it completed a C$6.46 million private placement of units. The deal priced Aug. 11.
The company sold 2.3 million units of one class A share and one warrant at C$2.81 per unit. Each warrant will be exercisable at C$3.10 for three years. The strike price represents a 10.32% premium to the closing share price of C$2.81 on Aug. 10.
Calgary, Alta.-based Galleon is a mid-sized oil and natural gas explorer and producer operating in Western Canada. The company plans to change its name to Guide Exploration Ltd.
| Issuer: | Galleon Energy Inc.
|
| Issue: | Units of one class A share and one warrant
|
| Amount: | C$6,463,000
|
| Units: | 2.3 million
|
| Price: | C$2.81
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$3.10
|
| Pricing date: | Aug. 11
|
| Settlement date: | Sept. 16
|
| Stock symbol: | Toronto: GO
|
| Stock price: | C$2.81 at close Aug. 11
|
| Market capitalization: | C$256.14 million
|
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