GREY:SMBZF - Post by User
Comment by
mbgldon Oct 25, 2010 12:18pm
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Post# 17607516
RE: RE: RE: RE: today's trading..
RE: RE: RE: RE: today's trading..If they could move it to 20 cents and get the warrants exercised may be their next attempt of attaining $$$.
SIMBA ENERGY ANNOUNCES PRIVATE PLACEMENT
Vancouver, B.C., Canada – September 13, 2010 – Simba Energy Inc. (the“Company”) is pleased to announce it has arranged, subject to theapproval of the TSX Venture Exchange, a private placement of up to8,125,000 units at
.08 per unit for a total gross proceeds of up to$650,000. Each unit consists of one common share and one transferableshare purchase warrant, each warrant exercisable into one additionalcommon share for one year from the date of issue at a price of
.16 pershare. After all statutory hold periods on the securities expire, ifthe common shares of the Company trade on the TSX Venture Exchange at aprice of
.20 or more for 10 consecutive trading days at any time (the“Acceleration Event”), then the warrants will expire on the earlier ofthe expiry date and 4:30 p.m. (Vancouver time) on the date which is 30calendar days after the Company provides notice to the warrant holdersthe Acceleration Event.