Sunridge Energy Corp. has closed the first tranche of its previously announced private placement. The Corporation issued an aggregate of 1,472,000 common shares for gross proceeds of $342,780. 1,001,000 common shares were issued on a flow-though basis at a price of $0.15 per share, and the balance of 471,000 shares were issued as ordinary common shares at a price of $0.13 per share.

The Corporation paid commissions and finders' fees totaling $23,273 and issued broker warrants entitling the holders to acquire an aggregate of 41,626 common shares at a price of $0.13 per share, for a period of one year.

The Corporation plans to resume its financing efforts in the first quarter of the new year.

Tags: Sunridge Energy Corp.