By Sheri Kasprzak
New York, June 1 - Dual Exploration Inc. has upsized to C$6,258,380 its previously announced C$5,008,400 private placement.
The company now plans to sell 662,000 shares at C$1.90 each and 2,137,000 flow-through shares at C$2.34 each.
The deal is being placed through a syndicate of underwriters led by Clarus Securities Inc. and FirstEnergy Capital Corp. and including Dundee Securities Corp.
The placement priced May 31 as a C$5,008,400 offering of 530,000 common shares and 1.71 million flow-through shares.
The deal is scheduled to close June 15.
Proceeds will be used for exploration on the company's natural gas and oil reserves in western Canada. The rest will be used for general corporate purposes.
Dual, based in Calgary, Alta., is an oil and natural gas exploration, development and production company.
Issuer: | Dual Exploration Inc.
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Issue: | Flow-through and non flow-through shares
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Amount: | C$6,258,380
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Underwriters: | Clarus Securities Inc. (lead), FirstEnergy Capital Corp. (lead), Dundee Securities Corp.
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Pricing date: | May 31
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Upsized: | June 1
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Settlement date: | June 15
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Stock symbol: | Toronto: DLX
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Stock price: | C$1.95 at close May 31
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Non flow-through shares
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Shares: | 662,000
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Price: | C$1.90
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Warrants: | No
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Flow-through shares
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Shares: | 2,137,000
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Price: | C$2.34
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Warrants: | No
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