This is really starting to happen....cheap paper makes the world go around!
Galileo Petroleum completes $76,700 private placement
2015-11-06 12:17 PT - News Release
Mr. David Hottman reports
GALILEO COMPLETES PRIVATE PLACEMENT FINANCING
Galileo Petroleum Ltd.'s non-brokered private placement, announced on Sept. 4, has closed. The company has issued 1,534,000 common shares at a price of five cents per share for gross proceeds of $76,700.
Additionally the company has, subject to the approval of the TSX Venture Exchange, closed $75,800 of units under a non-brokered private placement, also announced on Sept. 4. The company will issue 1,516,000 units at a price of five cents per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole common share purchase warrant is exercisable for one common share of the company at a price of 10 cents until Nov. 6, 2017.
The company has paid no finders' fees in connection with this financing.
All securities issued under the placements, including the common shares issuable pursuant to the exercise of the warrants, will be subject to a four-month hold period, which will expire on March 6, 2016.
The proceeds of the placements will be used for general corporate purposes.