Dejour Enterprises has entered into a definitive agreement to sell 10.8 million common shares at a price per share of US $0.30 pursuant to a registered direct offering to institutional investors, resulting in gross proceeds of approximately US $3.2 million.
In addition to the issuance of common shares, Dejour will also issue to the investors warrants to purchase up to 8.1 million common shares at an exercise price of US $0.40 per share. The warrants will be exercisable over a 5 year term commencing 6 months from the closing date of the transaction.
Dejour plans to use the net proceeds from the offering to explore and develop our oil & gas properties, for working capital and for general corporate purposes.
The closing of the offering is expected to take place on or about Tuesday, December 22, 2009, subject to the satisfaction of customary closing conditions.
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