Business
GEODRILL CLOSES $40 MILLION INITIAL PUBLIC OFFERING AND SECONDARY OFFERING
GEODRILL CLOSES $40 MILLION INITIAL PUBLIC OFFERING AND SECONDARY OFFERING
About this update from Geodrill Limited
[{"type":"text","content":"\n\n\n\n Dec. 16, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n/THIS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT TO\n BE DISTRIBUTED TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATED IN\n THE UNITED STATES./\n\n\nTORONTO, Dec. 16 /CNW/ - (TSX: GEO) Geodrill Limited ("Geodrill" or "the\n Company"), a leading West African drilling company, announced today it\n has closed its initial public offering and secondary offering of\n ordinary shares.  The Company's ordinary shares commence trading today\n on the Toronto Stock Exchange (TSX) under the symbol "GEO".\n\n\n"With continued aggressive drilling in West Africa, Geodrill has the\n opportunity to capitalize on this strong market," said David Harper,\n President and CEO of Geodrill Limited.  "The proceeds from the IPO\n provide financial strength and flexibility for Geodrill to execute its\n long-term growth strategy including adding more drill rigs and growing\n its current client base while continuing to assess expansion\n opportunities throughout West Africa and other jurisdictions in\n Africa."\n\n\nThe offering was priced at $2.00 per share for aggregate gross proceeds\n of $40,000,000.  In addition, the Company has granted the agents an\n over-allotment option to purchase up to an additional 3,000,000 shares\n at the offering price exercisable for a period of 30 days from the date\n of closing of the offering, to cover over-allotments, if ...