Business
DualEx announces filing of preliminary prospectus
DualEx announces filing of preliminary prospectus
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\nOct. 20, 2009 (Canada NewsWire Group) -- CALGARY, Oct. 20 /CNW/ -- DualEx Energy International Inc. (\"DualEx\" or the \"Corporation\") (TSX-V : DXE), is pleased to announce that it has filed a preliminary short form prospectus in connection with a marketed public offering of units of the Corporation (\"Units\") for minimum gross proceeds of $3,000,000 and maximum gross proceeds of $7,000,000 (the \"Offering\"). The Offering is co-lead by Clarus Securities Inc. and Jennings Capital Inc. (together, the \"Agents\").Each Unit will be comprised of one common share of the Corporation (\"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof, subject to an acceleration clause, to purchase one Common Share at any time on or before the date that is two years from the closing of the Offering.The Units, including the exercise price of the Warrants during each of the first and second year of their term, will be priced in the context of the market.In addition, the Corporation has granted the Agents an over-allotment option equal to 15% of the number of Units sold by the Corporation to cover over-allotments and for market stabilization purposes, exercisable at any time up to 30 days after the closing of the Offering.The Corporation intends to use the net proceeds of the Offering for the drilling, completion and tie-in of wells in Hungary, the completion and testing of the Al Tayr-101 well in Syria, and general corporate purposes. If the maximum gross proceeds are raised under the Offering, the net proceeds will also be used to acquire 3D seismic on the Bouhajla exploration block in Tunisia.Closing of the Offering is subject to certain conditions, including final due diligence and regulatory approval, including approval of the TSX Venture Exchange.A preliminary prospectus containing important information relating to the Offering has been filed with the securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from Mr. Lorne Morozoff, the Vice-President, Finance of the Corporation, at Suite 200, 521 - 3rd Avenue S.W., Calgary, Alberta T2P 3T3, telephone (403) 265-8011 ext. 222, and it is anticipate...