Target price I figure there will be an effort to get the share price over the .60 range , thats where the wts from the last PP are priced. Lots of time left on them though.
Gallic Energy closes $23-million financing
2011-04-13 09:30 ET - News Release
Mr. William Smith reports
GALLIC ENERGY LTD. ANNOUNCES CLOSING OF $23,000,000 BOUGHT DEAL FINANCING
Gallic Energy Ltd. has completed its previously announced $23-million bought deal offering, with a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. and Canaccord Genuity Corp., and including Raymond James Ltd., Paradigm Capital Inc. and Fraser Mackenzie Ltd. Today the corporation issued a total of 57.5 million units at a price of 40 cents per unit for total gross proceeds of $23-million. Each unit consists of one common share and one-half common share purchase warrant of the corporation. Each whole warrant entitles the holder to acquire one common share at a price of 60 cents until April 13, 2013. The securities issued pursuant to the offering are subject to a statutory hold period of four months plus one day from the date of issue.