THE BIG BOYS ! Like to give them the money they need, last PP in may was at 20 cents for a gross proceed of 30 million dollars.So they must see lots of value here.
News Releases
Petroamerica announces closing of Bought Deal Financing
May 9, 2011
Petroamerica Oil Corp. (“Petroamerica” or the “Company”) (TSXV:PTA) is very pleased to announce it has completed its previously announced bought deal financing of 152,500,000 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
.20 per Unit (the “Offering”) for total gross proceeds of $30,500,000. Each Warrant is exercisable for one Common Share at a price of
.35 until May 9, 2014. 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”).The Underwriters have an option to purchase up to an additional 22,875,000 Units at the same price and upon the same terms as the Offering for up to 30 days following the date hereof for additional gross proceeds of up to $4,575,000.