PP news @ $1.15 Stealth Ventures Ltd. Announces $8.0 million Private Placement
Thursday September 15, 8:44 pm ET
Trading Symbol: SLV.tsxventure
CALGARY, Sept. 15 /CNW/ - Stealth Ventures Ltd. (the "Company") announces that it has negotiated, subject to regulatory acceptance, an $8.0 million private placement to consist of 6,956,522 units at a price of $1.15 per unit, each unit to consist of one common share and one-half (1/2) of a share purchase warrant, with each whole warrant to entitle the holder to purchase one additional common share at a price of $1.50 for a period of two (2) years from closing. The proceeds from this private placement will fund operations, including the program at the Company's Stellarton and Cumberland Basin coal-bed methane (CBM) properties in Nova Scotia.
Stealth is a Calgary-based junior oil and gas company listed on the TSX Venture exchange, whose expertise and focus is "unconventional" gas reserves such as CBM, shale gas and ultra tight sand gas reservoirs.
STEALTH VENTURES LTD.
"W. Robert Bell"
Per:
W. ROBERT BELL
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING INFORMATION. ACTUAL FUTURE RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTEMPLATED.
For further information
W. Robert Bell, President, Stealth Ventures Ltd., Tel.: (403) 514-9998, Fax: (403) 514-9995, Email: rbstealth@hotmail.com
Source: Stealth Ventures Ltd.