I have shares in PTA and like the potential that this company has in the next couple of weeks. Cant wait to hear about Balay-2.
Just wondering if you would consider purchasing the second set of warrants PTA.WT.A instead of PTA.WT?
CALGARY, Nov. 17 /CNW/ - Petroamerica Oil Corp. (TSXV:PTA) ("Petroamerica" or the "Company") is very pleased to announce it has completed its previously announced bought deal financing of 62,500,000 units of the Company ("Units"), each Unit consisting of one common share in the capital of the Company ("Common Share") and one half of one common share purchase warrant (each whole common share purchase warrant being a "Warrant"), at a price of
.40 per Unit (the "Offering"). Each Warrant is exercisable for one Common Share at a price of
.60 until November 17, 2012. The syndicate of underwriters was led by Raymond James Ltd. and included GMP Securities L.P., Haywood Securities Inc., Canaccord Genuity Corp. and Jennings Capital Inc. (collectively, the "Underwriters").
In addition, the Underwriters exercised their option to purchase up to an additional 9,375,000 Units at the same price and upon the same terms as the Offering for additional gross proceeds of $3,750,000. As a result of the foregoing, a total of 71,875,000 Units were issued for total gross proceeds of $28,750,000.
The net proceeds from the Offering will be used to fund the exploration and development of the Company's petroleum assets in Colombia and for general business development, acquisitions and working capital purposes.
Petroamerica is a junior oil and gas company operating in Colombia and its shares are listed on the TSX Venture Exchange under the symbol "PTA". The Warrants will be listed on the TSX Venture Exchange under the symbol "PTA.WT.A".
What do you think? Thank you for your help.