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| Home : Jadela Oil Corp. Increases Financing |
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Aug 22
2011 |
Jadela Oil Corp. Increases Financing |
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CALGARY, ALBERTA--(Marketwire - Aug. 22, 2011) - Jadela Oil Corp. ("Jadela") (TSX VENTURE:JOC) wishes to announce the increase in the size of the financing announced on July 26, 2011 from $2,000,000 to $5,000,000 to be comprised of 5,000,000 units at a price $1.00 per unit on a non brokered basis. Each unit was comprised of one common share in the capital of Jadela and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at any time within two years of the date of issuance at a price of $1.50 per common share. All of the securities issued under the private placement are subject to a four month resale restriction and will contain a legend which will detail the resale restriction. There is no minimum or maximum. Jadela may close the offering in several tranches. In connection with this private placement, Jadela will pay cash finder's fees equal to 8% of the funds raised to eligible finders who introduced subscribers to the private placement and issue one finder's warrant for every 10 units issued to eligible subscribers. Each finder's warrant will be issued to finders on the same terms as the warrants comprising the units. All sales must be concluded by September 9, 2011. Jadela received conditional approval from the TSX Venture Exchange for the 2,000,000 unit offering. Jadela has applied to the TSX Venture Exchange for conditional acceptance of the new financing. The purpose of the offering is to acquire mineral rights, to pay for drilling expenses and to pay for the cost of capital infrastructure in South Texas. |
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| Source:http://www.marketwire.com/mw/release.do?id=1552079&sourceType=3 |
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