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Petrolifera Petroleum receives $17.8 million from exercise of $3.00 warrants which expired on May 8, 2007
Petrolifera Petroleum receives $17.8 million from exercise of $3.00 warrants which expired on May 8, 2007.
About this update from Medexus Pharmaceuticals Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, May 11 /CNW/ - Petrolifera Petroleum Limited (PDP - TSX)\nannounced today that since March 31, 2007, the end of the last reporting\nperiod, 5,921,907 share purchase warrants, each of which entitled the holder\nto acquire one common share of Petrolifera from treasury at a price of $3.00\nper common share, were exercised prior to expiry on May 8, 2007. Accordingly,\na like number of common shares have been issued.\n\n\nAs a consequence, Petrolifera received a total of $17.8 million of\nadditional funds and now has 50 million common shares outstanding\n(53.3 million fully-diluted). Petrolifera had $59.2 million of cash on hand\nand $58.8 million of working capital at the end of the first quarter 2007, so\nthe receipt of the proceeds further enhanced the company's cash balances,\nworking capital and liquidity.\n\n\n","length":877,"tagName":"div"}]