DEEP Earth Energy Production Corp announces $1.5m private placement
Saskatchewan landscape at Lumsden / Craven, Canada (source: flickr/ vtveen, creative commons)
Alexander Richter
18 Ağu 2011
Canadian developer DEEP Earth Energy Production Corp. announces a non-brokered private placement of up to $1.5 million in voting shares in the capital of the corporation.
Canadian developer DEEP Earth Energy Production Corp. announces a non-brokered private placement – of up to C$1,500,000 (US$1.52 million)
In the release the company reports: “The offering consists of up to 7,500,000 common Class “A” voting shares in the capital of the Corporation (each a “Common Share”) priced at $0.20 per share, for total proceeds of up to $1,500,000.
The Corporation plans to use the net proceeds of the Offering to engage a consulting firm for geothermal project management, for land acquisitions and additional exploration, and for general working capital purposes.
The Offering is expected to close on or around September 22, 2011.
Recent major milestones have enabled DEEP to move ahead with project planning and its goal of power production by 2013. The completion of a Lease of Space agreement with the Saskatchewan Ministry of Energy and Resources has provided an initial exclusive location for geothermal power development. The Company was also successful in being accepted into SaskPower’s Green Options Partners Program.
Additional information and presentation of the company’s recent Annual General Meeting see: www.deepcorp.ca
