Habanero Arranges Financing with an Institutional Investor
Habanero Resources reports a non-brokered private placement of up to 478,405 units at $0.35 per unit for total proceeds of $167,442, subject to regulatory approval. Each unit will consist of one flow-through common share and one non flow-through share purchase warrant; each warrant entitles the holder to purchase one non flow-through common share for a period of two years from closing at $0.50 per share. Proceeds from this placement will be used for future exploration and development of Habanero's Canadian oil and gas interests. The single subscriber for this placement will be an institutional flow-through fund. A finder's fee in accordance with the exchange guidelines will be paid.
Habanero will also conduct a non-brokered private placement of up to 300,000 non flow-through units at $0.31 per unit for total proceeds of $93,000, subject to regulatory approval. Each unit will consist of one common share and one share purchase warrant; each warrant entitles the holder to purchase one common share for a period of two years from closing at $0.35 per share. A finder's fee in accordance with the exchange guidelines will be paid.
Jason Gigliotti, President of Habanero Resources stated,
"For Habanero to have an institutional investor take an
equity stake in our company is a great sign, as larger shareholders
are starting to take an active interest in our growth potential,
especially since we have announced our entry into the Alberta
Oil Sands. This also allows us to be able participate in
new projects and/or increase our interests in existing projects.
We feel 2006 will be a significant year for Habanero as
our conventional oil and gas prospects, as well as our Alberta
Oil Sands project, are explored and developed.''
- Habanero Drops 50% Interest in 2 Oil Sands Leases (Jan 20)
- Habanero Proposes Drill Program on Oil Sands Prospect (Aug 22)
- Habanero Acquires Interest in Alberta Oil Sands Sections (Jul 13)