Ridgeline Announces Amendment to Private Placement
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.