Business
Blackpool announces a private placement of units
Blackpool announces a private placement of units.
About this update from Wescan Energy Corp.
[{"type":"text","content":"\n\n\n\nCALGARY, Dec. 20 /CNW/ - Blackpool Exploration Ltd. (the \"Company\")\n(BPX.A - TSX Venture Exchange) announces that it intends to issue up to\n6,000,000 Units under a non-brokered private placement. Each Unit will be\nissued at $0.25 and will consist of one Flow-Through Common Share plus\none-half of one Common Share purchase warrant. Each whole warrant will allow\nthe holder to purchase an additional common share at an exercise price of\n$0.40 within twenty-four months of the date of issuance. The minimum offering\nis C$500,000 (2 million Units) and the maximum offering is C$1,500,000 (six\nmillion Units). The anticipated closing date is December 28, 2006. Subscribers\nwill receive an Offering Memorandum. The securities will be subject to a four\nmonth hold period. Insiders of the Company may participate in this private\nplacement which will not result in a change of control of the Company.\n\n\nLicensed advisors and dealers will be paid a cash commission equal to 8%\nof the gross proceeds raised by such advisor or dealer together with warrants\n(\"Dealer Warrants\") equal to 8% of the number of Units sold by such advisor or\ndealer. Each Dealer Warrant will entitle the holder to subscribe for one\ncommon share of the Company at an exercise price of $0.25 per share and will\nexpire twenty-four months after the date of issuance. Subject to TSX Venture\nExchange guidelines and approval, the Company will pay to non-licensed finders\na cash finder's fee equal to 6% of the gross proceeds raised in the offering\nfrom subscribers introduced to the Company by such finders and the Company\nwill grant Dealer Warrants to each finder in a number equal to 8% of the\nnumber of Units sold by the Company to subscribers introduced to the Company\nby such finders.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\n","length":1933,"tagName":"div"}]