Result Energy Closes $0.5 Million Private Placement

Result Energy Inc. has completed an expedited non-brokered private placement of common shares which consisted of 1,250,000 common shares issued on a flow-through basis for income tax purposes at $0.40 per share.

The gross proceeds of $500,000 are intended to be used to finance exploration and development activities, and for general corporate purposes. Result is required to incur qualifying expenditures totaling $500,000 by December 31, 2008 and will renounce this amount of Canadian Exploration Expenses ("CEE") to subscribers effective December 31, 2007.

The securities issued will be subject to a four-month hold period from the date of closing. Following completion of this placement, Result has 56,141,638 common shares outstanding.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Controls Specialist
Expertise: Project Management
Location: Minneapolis
Outside Sales - Oklahoma
Expertise: Sales
Location: Oklahoma City, OK
Quality Assurance and Training Specialist Job
Expertise: HR - General|HR - Trainer / Instructor|Risk Management
Location: Minneapolis, MN
search for more jobs

Brent Crude Oil : $51.46/BBL 0.61%
Light Crude Oil : $50.52/BBL 0.64%
Natural Gas : $2.83/MMBtu 5.35%
Updated in last 24 hours