Stratic Adds 4.5M Shares to Offering
Stratic Energy Corp. said that, further to the $50,000,000 bought deal announced on February 7, 2007, the offering has been increased by 4,500,000 shares, taking the offering to a total of $56,075,004.
The additional shares will be issued in the form of subscription receipts contingent upon the completion of Stratic's planned merger with Grove Energy. The additional proceeds will be used to fund the merged company's capital expenditure program.
The financing is expected to close in early March 2007. In accordance
with applicable securities legislation and stock exchange policies, the
securities issued in connection with this financing are subject to a four
month hold period from the date of closing of the financing.
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Company: Grove Energy Ltd. more info
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