Salinas Energy raises $5.27 million through private placement

Nov 26, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: Salinas Energy Ltd (SAEYF)

Salinas Energy Limited, an Australia-based oil and gas exploration company, has raised AUD5.7 million ($5.27 million) through a private placement with institutional and sophisticated investors.

Salinas Energy has issued 42 million shares at a price of AUD0.135 ($0.12) per share in the placement.

Patersons Securities Limited acted as lead manager for the transaction.

Deal Value (US$ Million) 5.27
Deal Type                Private Placement
Sub-Category             None
Deal Status              Completed: 2009-11-26

Deal Participants

Target (Company)   Salinas Energy Limited
Acquirer (Company) Undisclosed Investors

Deal Rationale

Salinas Energy intends to use the proceeds from the placement to pursue new venture opportunities in Southeast Asia and California.

Offer Price ($ per share) 0.12
No. Shares Issued         42000000

News Provided by COMTEX

Company: Salinas Energy Ltd (SAEYF)

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Salinas Energy raises $5.27 million through private placement

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