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    SeaBird completes private placement

    Company News // November 29, 2012

    SeaBird Exploration Plc has completed a Private Placement of 11,000,000 new shares directed towards Norwegian and international institutional investors.

    The over-subscribed placement was made at a subscription price of NKr 7.50 per share. The total gross proceeds were NKr 82.5 million.

    The proceeds will be used for investment in seismic equipment including a 3D upgrade of Aquila Explorer as well as to strengthen the company's balance sheet and liquidity position.

     

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