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Article: Drake Energy Ltd.: Private Placement.
- Article from:
- Marketwire Canada
- Article date:
- August 5, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALGARY, ALBERTA, Aug 5, 2009 (Marketwire via COMTEX) -- Drake Energy Ltd. (the "Corporation") (TSX VENTURE:DPE) intends to complete a non-brokered private placement (the "Private Placement") for up to: (i) 1.5 million units ("Units") of the Corporation at an issue price of $0.10 per Unit, each Unit to consist of one (1) common share of the Corporation ("Common Share") and one (1) Warrant; and (ii) 3.75 million units ("Flow Through Units") of the Corporation at an issue price of $0.12 per Flow Through Unit, each Flow Through Unit to consist of one (1) Common Share issued on a "flow through" basis within the meaning of the Income Tax Act (Canada) and one (1) Warrant, for ...