CBE Cabo Drilling Corp

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Cabo Drilling Corp. (TSX VENTURE:CBE) ("Cabo Drilling" or the "Company")
announces today that it has closed the first tranche (the "First Tranche") of
its non-brokered private placement of debenture units (the "Units"), raising
gross proceeds of $2,705,000 which is part of a larger offering (the "Offering")
to raise a total of up to $5,000,000.


The full Offering is anticipated to consist of 5,000 Units at a price of $1,000
per Unit for gross proceeds of $5,000,000. Each Unit will be comprised of one
secured subordinate debenture in the principal amount of $1,000 (a "Debenture")
and 500 common shares (the "Common Shares") of the Company. 


The Debentures have a face value of $1,000 per Debenture, a maturity date of May
30, 2015 (the "Maturity Date"), and will accrue interest at a rate of 12% per
annum payable semi-annually in arrears on November 30th and May 31st in each
year commencing November 30, 2012. The November 30, 2012 interest payment will
represent accrued interest for the period from the closing date. The Debentures
will be redeemable, in whole or in part, at any time following the closing date,
for cash at 102% of the principal amount of the Debentures, together with
accrued and unpaid interest, at the Company's sole option on not more than 60
days' and not less than 30 days' prior written notice. 


The Debentures will be secured against all assets of the Company, but
subordinated to an existing demand loan facility, an equipment loan the Company
is currently pursuing and an existing bridge loan facility. 


The Company will use the net proceeds of the Offering for general working
capital purposes. The securities issued under this private placement are subject
to a hold period under applicable Canadian securities legislation of four months
and a day expiring on October 1, 2012. Closing of the Offering remains subject
to TSX Venture Exchange approval. 


Under this First Tranche, a finder's fee of $162,300 in cash will be paid to
Ascendant Securities Inc. ("ASI"). In addition, ASI will receive an aggregate of
1,352,500 share purchase warrants (the "Finder's Warrants"), with each such
Finder's Warrant entitling ASI to purchase one common share at a price of $0.12
at any time up to 24 months from the closing date of this transaction. The
Company will also issue 311,075 common shares to ASI for corporate advisory
services.


About Cabo Drilling Corp. (TSX VENTURE:CBE) 

Cabo Drilling Corp. is a drilling services company headquartered in North
Vancouver, British Columbia, Canada. The Company provides mining related and
specialty drilling services through its Canadian divisions in Surrey, British
Columbia; Montreal, Quebec; Kirkland Lake, Ontario; and Springdale,
Newfoundland; Cabo Drilling (Panama) Corp. of Panama, Republic of Panama; Cabo
Drilling Panama-Pacifico Corp. of Panama, Republic of Panama doing business as
Cabo Drilling Colombia Corp.; Balkan States Drilling SH.P.K. of Tirana, Albania;
and Cabo Drilling (International) Inc. The Company's common shares trade on the
Frankfurt Exchange under the symbol: DHL and on the TSX Venture Exchange under
the symbol: CBE. 


ON BEHALF OF THE BOARD 

John A. Versfelt, Chairman, President and CEO

For further information about the Offering, please contact Justin Sim.

Further information about the Company can be found on the Cabo website
(www.cabo.ca) and SEDAR (www.sedar.com).


This news release may contain forward-looking statements including but not
limited to comments regarding the expected use of proceeds of the financing.
Forward-looking statements address future events and conditions and therefore,
involve inherent risks and uncertainties. Actual results may differ materially
from those currently anticipated in such statements.

Cabo Drilling (TSXV:CBE)
過去 株価チャート
から 5 2024 まで 6 2024

Cabo Drilling (TSXV:CBE)
過去 株価チャート
から 6 2023 まで 6 2024