Business
Unitech Energy announces closing of private placement
Unitech Energy announces closing of private placement.
About this update from Decimus Oil Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, July 11 /CNW/ - Unitech Energy Resources Inc. ("Unitech") (TSXV:\nURX) is pleased to announce that it has completed its previously announced\nnon-brokered private placement of units ("Units") and common shares issued on\na "flow-through" basis ("Flow-Through Shares"). Unitech issued 984,478\nFlow-Through Shares at a price of $0.23 per Flow-Through share and 1,942,000\nUnits at a price of $0.20 per Unit for aggregate gross proceeds of\n$614,829.94. Each Unit consisted of one common share and one-half of a\nnon-transferable common share purchase warrant of Unitech, with each whole\nwarrant entitling the holder to purchase one additional common share of\nUnitech at a price of $0.25 per share for a period of 12 months from the\nclosing of the offering. All of the common shares issued under the private\nplacement are subject to a four-month hold period in Canada, which will expire\non November 11, 2007. The net proceeds from this offering will be used to fund\nUnitech's exploration programs as well as for general corporate purposes.\n\n\nAbout Unitech Energy Resources Inc.\n\n\nUnitech uses its proprietary image analysis and pattern recognition\nsystem, called Leadscan, for a 'first look advantage' that drives Unitech's\nexploration strategy. Please visit Unitech's website at www.leadscan.ca.\nShares of Unitech are listed for trading on the TSX Venture Exchange under the\nsymbol URX.\n\n\nExcept for statements of historical fact, this news release contains\ncertain "forward-looking information" within the meaning of applicable\nsecurities law. Forward-looking information is frequently characterized by\nwords such as "plan", "expect", "project", "intend", "believe", "anticipate",\n"estimate" and other similar words, or statements that certain events or\nconditions "may" or "will" occur. Forward-looking statements are based on the\nopinions and estimates of management at the date the statements are made, and\nare subject to a variety of risks and uncertainties and other factors that\ncould cause actual events or results to differ materially from those\nanticipated in the forward-looking statements, which include but are not\nlimited to risks inherent in the oil and gas industry, re...