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Share Name | Share Symbol | Market | Type |
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TSXV:TAE | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
Proceeds raised from the private placement will be used for general working capital purposes.
The Company may pay finders' fees in connection with the private placement in accordance with the rules and policies of the Exchange.
Certain of the directors and/or officers of the Company may together directly and indirectly subscribe for a total of up to 1,000,000 Units, and upon closing of this private placement, those related parties may therefore acquire up to an additional 1,000,000 shares in the capital stock of the Company which will increase their pro rata shareholdings in the Company (the "Related Party Transaction"). All of the independent directors of the Company, acting in good faith, have determined that the fair market value of the securities being issued and the consideration paid is reasonable and, with the value of the Related Party Transaction being less than 25% of the Company's market capitalization, is exempt from the formal valuation and minority shareholder approval requirements of the Ontario Securities Commission's Rule 61-501.
ON BEHALF OF THE BOARD
Jurgen Wolf, director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: TransAmerican Energy Inc. Jurgen Wolf Director (604) 718-2800 (604) 718-2808 (FAX)
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