Shoal Point arranges $3-million private placement
Ticker Symbol: C:SHP
Shoal Point arranges $3-million private placement
Shoal Point Energy Ltd (C:SHP)
Shares Issued 413,998,903
Last Close 9/23/2013 $0.04
Tuesday September 24 2013 - News Release
Mr. Mark Jarvis reports
SHOAL POINT ENERGY ANNOUNCES NON BROKERED PRIVATE PLACEMENT
Shoal Point Energy Ltd. plans to complete a non-brokered private placement of up to 60 million units at a price of five cents per unit for gross proceeds of up to $3-million. Each unit will consist of one share and one share purchase warrant. Each warrant is exercisable at a strike price of six cents with an expiry on the second anniversary of the date of closing of the transaction.
Proceeds of the private placement will be used for general working capital.
The company also announces a non-brokered private placement of up to three million flow-through units at a price of five cents per unit for gross proceeds of up to $150,000. Each unit will consist of one flow-through share and one-half of a share purchase warrant. Each full warrant is exercisable at a strike price of six cents with an expiry on the second anniversary of the date of closing of the transaction.
Proceeds of the flow-through private placement will be used for qualifying Canadian exploration expenses.
The private placement is subject to regulatory acceptance and approval.
© 2013 Canjex Publishing Ltd.