Business
Unitech Energy completes final tranche of private placement
CALGARY, July 29 /CNW/ - Unitech Energy Resources Inc. ("Unitech") (TSXV: URX) is pleased to ann...
About this update from Decimus Oil Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, July 29 /CNW/ - Unitech Energy Resources Inc. ("Unitech") \n(TSXV: URX) is pleased to announce that it has completed the second and final\ntranche of its previously announced non-brokered private placement of common\nshares ("Common Shares") and common shares issued on a flow-through basis\n("Flow-Through Shares"). Unitech issued 1,000,000 Common Shares at a price of\n$0.05 per Common Share and an aggregate of 1,528,571 Flow-Through Shares at a\nprice of $0.07 per Flow-Through Share for aggregate gross proceeds of\n$157,000. The Common Shares and Flow-Through Shares are all subject to a\nfour-month hold period. Unitech will use the aggregate net proceeds of the\nprivate placement to fund Unitech's exploration programs as well as for\ngeneral 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, regulatory and economic\nrisks, and risks associated with the company's ability to implement its\nbusiness plan. Unitech undertakes no obligation to update forward-looking\ninformation if circumstances or management's estimates or opinions should\nchange except as required by law. Th...