Dejour Enterprises announced that it has closed its non-brokered private placement. Gross proceeds from this flow through financing totaled C$1,017,500 corresponding to 2,907,300 units sold at $0.35. Each Unit consists of one flow-through common share and half of one share purchase warrant. Each whole warrant allows the holder to purchase one non-flow-through common share at $0.45 within 12 months from closing; Dejour has the right to accelerate the expiry date of the warrants if the average closing price of a Dejour share is above $0.65 during any twenty day period, following the mandatory hold period.
Insiders of Dejour purchased approximately 15% of this offering. The Company paid finders' fees of up to 6.25% of the proceeds in cash in connection with this sale and up to 1.5% warrants on the number of Units sold through the agent.
Funds will be used for completion of the current drilling program at Woodrush in NE BC project, where 2-3 new pool Halfway oil wells are to be drilled prior to the end of March. Dejour holds a 75% WI and operates this project. These wells are being drilled pursuant to the acquisition of new 3D seismic data. There are currently six wells in production at Woodrush producing about 630 gross BOE per day.
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