By Laura Lutz
Des Moines, July 19 - Canadian Spirit Resources Inc. closed two private placements of units for a total of C$3,544,700, up from the C$3.1 million total deal size announced on June 13.
One placement consisted of 3.053 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 sold 447,000 million flow-through shares at C$1.10 each.
The placements were non-brokered.
At pricing, the placements were expected to include 2 million units and 1 million flow-through shares.
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.
|
Issue: | Units of one share and one half-share warrant
|
Amount: | C$3.053 million
|
Units: | 3.053 million
|
Price: | C$1.00
|
Warrants: | One half-share warrant per unit
|
Warrant expiration: | One year
|
Warrant strike price: | C$1.10
|
Agent: | Non-brokered
|
Pricing date: | June 13
|
Settlement date: | July 19
|
Stock symbol: | TSX Venture: SPI
|
Stock price: | C$0.99 at close June 12
|
Stock price: | C$0.99 at close July 19
|
|
Flow-through shares
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Issuer: | Canadian Spirit Resources Inc.
|
Issue: | Flow-through shares
|
Amount: | C$491,700
|
Units: | 447,000
|
Price: | C$1.10
|
Warrants: | No
|
Agent: | Non-brokered
|
Pricing date: | June 13
|
Settlement date: | July 19
|
Stock symbol: | TSX Venture: SPI
|
Stock price: | C$0.99 at close June 12
|
Stock price: | C$0.99 at close July 19
|
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