By Laura Lutz
Des Moines, Jan. 18 - WaveForm Energy Ltd. completed a private placement of units for C$4 million.
The company sold 32 million units of one class A share and one warrant at C$0.125 per unit. Each warrant is exercisable for one class A share until Dec. 31, 2008. The warrants will be exercisable at C$0.125 until March 31, 2007; at C$0.20 from then until June 30, 2007; at C$0.30 from then until Dec. 31, 2007; and at C$0.40 after that.
Blackmont Capital Inc. was the agent.
The units were originally priced at C$0.15.
Of the proceeds, C$2 million were used to reduce the company's senior secured bridge facility with Brookfield Bridge Lending Fund Inc. to C$8 million from C$10 million. The rest of the proceeds will be used for exploration and development on the company's properties in Alberta.
WaveForm is an oil and gas company based in Calgary, Alta.
| Issuer: | WaveForm Energy Ltd.
|
| Issue: | Units of one class A share and one class A warrant
|
| Amount: | C$4 million
|
| Units: | 32 million
|
| Price: | C$0.125
|
| Warrants: | One per unit
|
| Warrant expiration: | Dec. 31, 2008
|
| Warrant strike price: | C$0.125 until March 31, 2007; C$0.20 until June 30, 2007; at C$0.30 until Dec. 31, 2007; at C$0.40 after that
|
| Agent: | Blackmont Capital Inc.
|
| Settlement date: | Jan. 18
|
| Stock symbol: | TSX Venture: WE.A
|
| Stock price: | C$0.19 at close Jan. 18
|
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