Decklar Resources Inc. has completed a closing of the company’s previously announced unit offering for total gross proceeds of approximately $5 million.
The funds from the financing would be deployed to the Oza Oil Field development in Nigeria, to pursue new oil and gas development opportunities in Nigeria, and for general corporate purposes.
As previously announced, Decklar proposed to complete a non-brokered financing to raise gross proceeds of up to $5,000,000 by way of a unit offering at a price of $1.00 per unit with each unit consisting of one common share of Decklar and one-half common share purchase warrant.
Each Warrant will entitle the holder thereof to acquire one common share at an exercise price of $1.50 per common share for a period of 12 months from the closing date of the offering.
The closing of the offering has been completed for total gross proceeds of $5,000,000 in respect of subscriptions for 5,000,000 Units, with approximate net proceeds to the company totalling $4,794,750.
The company paid finder’s fees in an aggregate amount of $205,250 to certain arm’s length persons. Decklar engaged Echelon Wealth Partners Inc. as strategic financial advisor in connection with the Offering.