RE: Show me one Jr.Exactly...We would be trading north of $3 if Lukas Lundin was part of the company. Other than Alec Robinson the deal maker, the rest of the board lacks depth.
SNM trades at a $250M market cap. and is raising another $50M for an exploration play. CTE has much more potential an better partners. The Biggest thing CTE lacks is depth on the board and management.
ShaMaran arranges $50-million private placement
2010-09-01 14:57 ET - News Release
Mr. Pradeep Kabra reports
SHAMARAN ANNOUNCES $50 MILLION PRIVATE PLACEMENT
ShaMaran Petroleum Corp. has agreed to sell, on a non-brokered, private-placement basis, a total of up to 111.2 million common shares at a price of 45 cents per share for gross proceeds of up to approximately $50-million. A 5-per-cent finder's fee, in cash or shares, may be payable on all or a portion of the private placement. Net proceeds of the private placement will be used toward the company's work programs in Kurdistan as well as for general working capital purposes. The common shares issued pursuant to the private placement will be subject to a four-month hold period.
The foregoing private placement is subject to regulatory approval.