DSR-v...in the news:
Doublestar overallotment exercised for $41,000 proceeds
Fri 28 Feb 2003
News Release
Mr. Alan Savage reports
ADDITIONAL SUBSCRIPTIONS FOR PRIVATE PLACEMENT
Doublestar Resources has closed a second portion of the private placement,
announced in Stockwatch on Jan. 29, 2003, and Feb. 14, 2003, for additional
gross proceeds of $41,850, pursuant to an overallotment option. The company
issued a total of 93,000 units at a price of 45 cents per unit, each unit
consisting of one Class A share and one-half non-transferable Class A share
purchase warrant. Each whole warrant entitles the holder to purchase one
further Class A share for a period of one year at a price of 50 cents per
share. In total, the company issued 4,636,222 units for gross proceeds of
$2,066,850. In addition, the company issued to an agent a corporate finance
fee of 190,000 units, each unit consisting of one Class A share and one
share purchase warrant, each warrant entitling the holder to purchase one
additional Class A share for a period of one year at a price of 50 cents
per share. The company also issued agents' warrants entitling the agents to
acquire that number of Class A shares equal to 12 per cent of the number of
units sold under the offering. Each agents' warrant entitles the holder to
purchase one additional Class A share for a period of one year at a price
of 50 cents per share.
In addition, the company has agreed to complete a non-brokered private
placement to one subscriber for 100,000 units of the company on the same
terms as the aforementioned placement. The company has agreed to pay
Canaccord Capital Corp. a finder's fee equivalent to 8 per cent of the
proceeds of the placement as well as agents' warrants entitling the agents
to acquire that number of Class A shares as is equal to 12 per cent of the
number of units sold under the offering. Each agents' warrant entitles the
holder to purchase one Class A share for a period of one year at a price of
50 cents per share. |
