Business
$556,000 Placement Completed
$556,000 Placement Completed.
About this update from Cavvy Energy Ltd
RIMOUSKI, QC, June 8 /CNW Telbec/ - PDetrolia (PEA : TSX - V) has completed a placement of $556,050 coming from the issue of 1,010,999 shares at the price of $0.55 per share and 1,010,999 warrants, each one giving the holder the right to purchase a common share. The shares may not be traded until October 9, 2006. Each warrant attached to the issued shares may be exercised at the price of $0.65 per share until November 30, 2006 and at $0.75 per share until November 30, 2007. Profit from the placement will be used as working capital and for exploration work scheduled for 2006. The Company has now issued 28,183,329 shares along with this placement. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.