NEWSStealth raises $1.26-million in first tranche
2005-05-26 17:58 ET - News Release
Mr. Robert Bell reports
CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT AND PARTICULARS REGARDING SECOND TRANCHE
Stealth Ventures Ltd. has closed the first tranche of the private placement originally announced in Stockwatch on March 1, 2005, which consisted of 2,294,000 units at a price of 55 cents per unit for proceeds of $1,261,700, each unit consisting of one common share and one-half of a share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of 75 cents until March 22, 2006.
All of the securities issued in connection with the closing of the first tranche are subject to a hold period in Canada until July 23, 2005.
Particulars of second tranche
The company also expects to close, within the next few days, the second tranche of 2,070,641 units under this private placement at a price of 55 cents per unit, for proceeds of $1,138,852. Particulars regarding the closing of the second tranche will be disseminated in due course.