| Home : July 2012 : July 06, 2012 News : Traverse Energy Ltd. Announces Increase in Size of Private Placement Financing |
Traverse Energy Ltd. Announces Increase in Size of Private Placement Financing |
July 06, 2012
CALGARY, ALBERTA--(Marketwire - July 5, 2012) - Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) reports that due to the oversubscription of its previously announced non-brokered private placement, the Corporation is increasing the size of its private placement of common shares of the Corporation ("Shares") to be issued on a "flow through" basis eligible for the renunciation of Canadian exploration expenses within the meaning of the Income Tax Act (Canada) at $0.67 per Share (the "Private Placement"). The Corporation will now issue up to 2,100,000 Shares for total gross proceeds of $1,407,000. In addition, the Corporation will pay a finder's fee on a portion of the Private Placement consisting of a cash payment equal to 6% of the gross proceeds raised from certain subscriptions.
http://www.marketwire.com/mw/release.do?id=1677125&sourceType=3
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