Oil and Gas

Ridgeline Energy Services Inc. (TSX VENTURE:RLE) reported that the company is amending the terms to its private placement previously announced on May 4, 2010.

Ridgeline Energy Services Inc. (TSX VENTURE:RLE) reported that the company is amending the terms to its private placement previously announced on May 4, 2010.

The press release is quoted as saying:

The Company has now received conditional approval from the TSX Venture Exchange to proceed with a private placement of up to 4,375,000 units at $0.16 per unit raising gross proceeds of up to $700,000. Each unit will consist of one common share and one full warrant. Each warrant shall be exercisable for a two year period from date of issue at a price of $0.25. In the event the market price of the common shares of the Company trades at $0.35 or higher for a period of twenty (20) consecutive days the warrants shall be deemed to be exercised by the holder.

Click here to access the entire press release

Click here to access Ridgeline Energy Corporate Site

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