Cirrus Completes Financing
Cirrus Energy Corp.
|Monday, July 10, 2006
Calgary-based Cirrus Energy Corp. said that it has closed its previously announced short form prospectus offering of common shares of the company through a syndicate of agents led by Tristone Capital Inc. and including Maison Placements Canada Inc. The offering resulted in gross proceeds of $10,005,000. It consisted of 8.7 million common shares issued at a price of $1.15 per share.
Cirrus plans to use the estimated $9.2 million of net proceeds from the offering to develop the company's projects in the Netherlands and for general corporate and working capital purposes.