Emerald Bay Energy Inc. (EBY.V) reported that on March 21, 2013, two shareholders of the corporation sold an aggregate of 750,000 common shares of the corporation at a price of $0.055 per share to members of the public through the assistance of Mackie Research Capital Corporation.
Subsequent to the above sale, the selling shareholders will, subject the final approval of the TSX Venture Exchange, acquire at least 750,000 units pursuant to a private placement announced on February 26, 2013, offering a maximum of 20,000,000 units at a subscription price of $0.05 per unit.
The net proceeds will be used for exploration and expansion of the corporation's South Texas property and general working capital needs.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
