STUOF: $500K Non-Brokered Private Placement
TUESDAY , FEBRUARY 03, 2004 10:28 AM
San Telmo Energy Ltd. (OTCBB: STUOF) in an 6-K filed today, reported a non-brokered private placement for proceeds of $500,000. The placement is for 379,000 units at a price of $1.32 per unit. Each private placement unit will consist of one common share and one half common share purchase warrant. The warrants will be exercisable at a price of $2.00 for a period of one year. There is a finder’s fee payable in connection with this placement.
The proceeds of this placement will be used for the completion and tie-in for production of San Telmo’s recently announced oil and gas discoveries at McLeod, Gordondale and Teepee Creek and for general corporate purposes.
The private placement is subject to approval by the TSX Venture Exchange
TUESDAY , FEBRUARY 03, 2004 10:28 AM
San Telmo Energy Ltd. (OTCBB: STUOF) in an 6-K filed today, reported a non-brokered private placement for proceeds of $500,000. The placement is for 379,000 units at a price of $1.32 per unit. Each private placement unit will consist of one common share and one half common share purchase warrant. The warrants will be exercisable at a price of $2.00 for a period of one year. There is a finder’s fee payable in connection with this placement.
The proceeds of this placement will be used for the completion and tie-in for production of San Telmo’s recently announced oil and gas discoveries at McLeod, Gordondale and Teepee Creek and for general corporate purposes.
The private placement is subject to approval by the TSX Venture Exchange
