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Storm Cat Energy Corporation Closes C$ 23.1 Million Private Placement of Units and Flow-Through Common Shares
Storm Cat Energy Corporation Closes C$ 23.1 Million Private Placement of Units and Flow-Through Common Shares.
About this update from Sama Resources Inc.
[{"type":"text","content":"\n\n\n\n\nCALGARY, Alberta and DENVER, Sept. 28 /CNW/ -- Storm Cat Energy\nCorporation (Amex: SCU; TSX: SME) today announced that it has closed its\nprivate placement previously announced on September 19, 2006. The private\nplacement consisted of the sale to a single investment group based in Ontario,\nCanada, acting as portfolio manager for fully-managed accounts, of 7,594,937\nunits (C$12,000,000.46) and 6,172,839 flow-through common shares\n(C$11,111,110.20) (the \"Offering\"). Each unit, priced at C$1.58 per unit, is\ncomprised of one common share and approximately 0.28 of a common share\npurchase warrant (2,126,582 warrants). Each whole common share purchase\nwarrant is exercisable into one common share at a price of C$1.90 per share\nfor a period of 18 months from closing. Each flow-through common share was\npriced at C$1.80 per share. In connection with the Offering, the Company has\npaid a cash commission equal to 6% of the aggregate gross proceeds of the\nOffering.\nThe securities distributed under the Offering are subject to a 4-month\nhold period and may not be traded before January 28, 2007 unless permitted\nunder applicable securities legislation and the rules of the Toronto Stock\nExchange.\nThe securities issued under the Offering have not been registered under\nthe United States Securities Act of 1933 or any state securities laws, and\nunless so registered may not be offered or sold in the United States, except\npursuant to an exemption from, or in a transaction subject to, the\nregistration requirements of the Securities Act of 1933 and applicable state\nsecurities laws. This press release is issued pursuant to Rule 135(c) of the\nSecurities Act of 1933, and does not constitute an offer to sell, or the\nsolicitation of an offer to buy, nor shall there be any sale of the common\nshares or warrants in any jurisdiction in which such offer, solicitation or\nsale would be unlawful prior to registration or qualification under the\nsecurities laws of any such jurisdiction.\n\n>\nStorm Cat Energy is an independent oil and gas company focused on the\npursuit, exploration and development of large unconventional gas reserves from\nfractured shales, coal beds and tight sand formations. The Company has\nproducing properties in Wyoming's Powder River Basin and exploitation and\ndevelopment acreage in Canada and Alaska. The Co...