Business
Unitech Energy completes fully subscribed private placement
CALGARY, Dec. 21 /CNW/ - Unitech Energy Resources Inc. ("Unitech") (TSXV: URX) is pleased to anno...
About this update from Decimus Oil Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, Dec. 21 /CNW/ - Unitech Energy Resources Inc. ("Unitech") (TSXV:\nURX) is pleased to announce that it has completed the second and final tranche\nof its previously announced non-brokered private placement of special warrants\nissued on a flow-through basis ("Special Warrants"). Unitech today issued an\naggregate of 9,679,558 Special Warrants at a price of $0.09 per Special\nWarrant for gross proceeds of $871,160.22, bringing the aggregate proceeds\nraised under the fully subscribed offering to $1,350,000. The Special Warrants\nare convertible into a variable number of Unitech common shares dependent on a\nreserves and valuation prepared by an independent consulting engineering\ncompany of the test well (the "Well") at its Keg River prospect in NE British\nColumbia. The Special Warrants, and the Unitech common shares issuable upon\nconversion, will be subject to a four-month hold period, commencing on the\ndate the Special Warrants are issued.\n\n\nUnitech will use the aggregate proceeds of the private placement to fund\nthe drillout and completion of the Well and earn an additional working\ninterest.\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 ar...