Business
DualEx Announces Closing of $1.9 Million Short Form Prospectus Offering
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNIT...
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, March 22, 2013 /CNW/ - DualEx Energy International Inc.\n (\"DualEx\" or the \"Corporation\") (TSX-V : DXE), announced today that it\n has closed its previously announced short form prospectus offering,\n raising gross proceeds of $1,901,125 for the Corporation.\n\n\nThe Offering was led by Beacon Securities Limited, for a syndicate of\n agents (the \"Agents\"). A total of 12,674,167 units (\"Units\") were\n issued by the Corporation at a price of $0.15 per Unit for gross\n proceeds of $1,901,125.  Each Unit consists of one common share of the\n Corporation (\"Common Share\") and one Common Share purchase warrant\n (\"Warrant\").  Each Warrant entitles the holder thereof to purchase one\n Common Share at any time prior to 5:00 p.m. (Calgary Time) on or before\n the earlier of the date that is: (a) March 22, 2015; and (b) 30 days after the giving of notice of early\n termination by DualEx, which may be given by DualEx, in its sole\n discretion, if the volume-weighted average price of the Common Shares\n on the TSX Venture Exchange exceeds the warrant exercise price by at\n least 200% for a minimum of 10 consecutive trading days (whether or not\n trading of Common Shares occurs on all such days, provided that the\n Common Shares trade on at least five of such trading days).  The\n exercise price of the Warrants will be $0.18 per Common Share.\n\n\nThe Corporation will use net proceeds of the Offering to: record a 47 km2 of 3D seismic data on the KT Block of the Corporation's Bouhajla\n exploration block located onshore in the Pelagian Basin of east central\n Tunisia and for general working capital purposes.\n\n\nThe Agents were paid a cash commission of $133,079 in connection with\n the Offering and received an aggregate of 887,192 compensation options\n to acquire that number of Common Shares at a price of $0.15 per Common\n Share until March 22, 2015.\n\n\nThe Corporation has granted to the Agents an option exercisable, in\n whole or in part, for a period of 15 days after the closing date of the\n Offering to require DualEx to issue up to an additional 15% of the\n Units actually sold at the closing of the Offering at the Offering\n Price to cover over-allotments and for market stabi...