Pounder Venture to conduct a C$1.5 million private placement of stock

Deal conducted in conjunction with qualifying transaction with Burgate

By Devika Patel

Knoxville, Tenn., Feb. 28 - Pounder Venture Capital Corp. said it plans to raise at least C$1.5 million in a private placement of stock. The deal will be conducted in connection with the company's qualifying transaction with oil and gas explorer Burgate Exploration & Production Ltd.

Proceeds will be used for a work program on a license to explore for petroleum resources in the East Irish Sea, United Kingdom and for working capital and other corporate purposes.

The capital pool company is based in Toronto.

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