![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Strata X Energy Ltd | TSXV:SXE | 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% | 0.07 | 0.07 | 0.085 | 0 | 01:00:00 |
May 15, 2012 - Strata-X Ltd. (TSX VENTURE:SXE) ("Strata-X" or the "Corporation") wishes to announce a non-brokered private placement to raise up to $7,000,000 through the issuance of units and convertible notes. The Corporation is also proposing to allow for up to $1 million of over-allotment units or convertible notes. Each unit will be made up of one common share and one-half of a common share purchase warrant ("Unit") at a price of $0.25 per Unit. Each whole warrant will entitle the holder to acquire one common share of the Corporation at a price of $0.60 per share for a period of 2 years from the date of closing. The convertible notes are redeemable convertible obligations of the Corporation (the "Convertible Notes"). The Convertible Notes shall have a term of one year and the principal amount of the Convertible Notes shall bear interest at an annual rate of 5%, which interest shall be payable semi-annually in arrears and they shall be convertible to units at a deemed price of $0.28 per unit. Each unit will be made up of one common share and one-half of a common share purchase warrant. The Convertible Notes shall automatically convert at the end of term into such units. The Corporation does not intend to list the Convertible Notes on the TSX Venture Exchange and they will not be secured against the Corporation's assets. The Convertible Notes will not have voting rights. The Corporation may pay finders' fees to eligible parties and these fees may be in the form of cash or common shares. The proceeds of the private placement will be used for acquisition of additional lands in the Corporation's Vail project in the United States ($4 million) general working capital ($750,000 ) and the costs of the offering. It is anticipated that current insiders of the Corporation may subscribe for up to $1 million in Units or Convertible Notes. It is not expected that the private placement will create any new insiders or control persons. The private placement is subject to approval of the TSX Venture Exchange. Strata-X is a Edmonton, Alberta and Golden, Colorado based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, and production and development opportunities in California and Texas. Strata-X has 42,600,656 common shares outstanding and trades under the symbol SXE on the TSX.V Public documents for Strata-X Ltd. can be found at SEDAR (www.sedar.com) This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. The use of any of the words "anticipate", "continue", "estimate", "expect", 'may", "will", "project", "should", 'believe", and similar expressions are intended to identify forward-looking statements. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected and the forward-looking statements included in this news release should not be unduly relied upon. See "Risks and Uncertainties" in the Company's Filing Statement dated August 30, 2011 available on SEDAR at www.sedar.com These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
1 Year Strata X Energy Chart |
1 Month Strata X Energy Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions