Business
Unitech Energy closes second tranche of private placement
Unitech Energy closes second tranche of private placement.
About this update from Decimus Oil Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, July 30 /CNW/ - Unitech Energy Resources Inc. ("Unitech")\n(TSXV: URX) is pleased to announce that it has completed a second tranche of\nits previously announced non-brokered private placement. Unitech issued\n217,000 common shares issued on a "flow-through" basis ("Flow-Through Shares")\nat a price of $0.23 per Flow-Through Share for aggregate gross proceeds of\n$49,910. All of the Flow-Through Shares issued under the private placement are\nsubject to a four-month hold period in Canada, which will expire on December\n1, 2007. The net proceeds from this offering will be used to fund Unitech's\nexploration programs.\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, regulatory and economic\nrisks, and risks associated with the company's ability to implement its\nbusiness plan. The company undertakes no obligation to update forward-looking\ninformation if circumstances or management's estimates or opinions should\nchange except as required by law. The reader is cautioned not to place undue\nreliance on forward-looking statements.\n\n\nThe TSX Venture Exchange has not reviewed, and does not ac...