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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Admiral Bay Resources Inc. | TSXV:ADB | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
The Company has issued 23,107,934 units, priced at $0.064 (CDN) per unit. Each unit consists of one common share of Admiral Bay and one-half warrant which will entitle the holder to purchase one additional common share at $0.09 (CDN) per share for a term of twelve (12) months ("Tranche A Warrants") and one-half warrant which will entitle the holder to purchase one additional common share at $0.128 (CDN) per share for a term of twenty-four (24) months ("Tranche B Warrants"). The Company paid a finder's fee of $60,287 (CDN) and 1,305,396 Tranche A Warrants and 1,305,396 Tranche B Warrants
All shares and warrants issued in connection with the private placement are subject to a four month hold period expiring on September 16, 2009 and October 9, 2009 respectively. If any of the warrants are exercised prior to these dates, the shares issued on exercise will be subject to a four month hold period expiring on the respective dates.
Net proceeds of the offering will fund the previously announced LV Neodesha (Thayer) acquisition of natural gas assets in the Kansas Cherokee Basin and for general corporate purposes.
Admiral Bay Resources Inc. (www.admiralbay.com) is an emerging unconventional gas production company focused on the development of projects in the Cherokee Basin in southeast Kansas and the Appalachian Basin in Pennsylvania. Admiral Bay is listed on the TSX Venture Exchange under the symbol ADB.
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".
Neither 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: Admiral Bay Resources Inc. Steven Tedesco President & C.E.O. (303) 350-1255 (303) 617-8956 (FAX) stedesco@admiralbay.com Admiral Bay Resources Inc. Robert Carington CFO (303) 350-1255 (303) 708-1861 (FAX) rcarington@admiralbay.com www.admiralbay.com
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