Tethys Petroleum Limited
Feb 12, 2010 09:32 ET
TORONTO, CANADA–(Marketwire – Feb. 12, 2010) –
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Tethys Petroleum Limited (“Tethys” or the “Company”)(TSX:TPL) today announced that it will complete a private placement of 30,000,000 Ordinary Shares for gross proceeds of CDN$46.5 million (the “Offering”), subject to regulatory approval. The Company has received order confirmations for the CDN$46.5 million maximum amount of the Offering
The Ordinary Shares have been placed at a price of C$1.55 each. The Ordinary Shares of the Company are listed on the Toronto Stock Exchange under the symbol “TPL” and the placement is subject to approval by the Toronto Stock Exchange. The net proceeds of the Offering will be used by Tethys for project development and capital expenditures. The private placement is scheduled for completion on or before March 3, 2010.
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