11:31 AM EST - Great Plains Exploration Inc. : announced that it has now entered into an agreement with a syndicate of underwriters co-led by Research Capital Corporation and J.F. Mackie & Company Ltd., whereby the underwriters will purchase, on a bought deal basis, 8,825,000 common share special warrants of the company at a price of $0.34 per warrant and 7,500,000 flow-through share special warrants of the company at a price of $0.40 per warrant for total gross proceeds of around $6 million. In addition, the company stated that the underwriters have been granted an over-allotment option, which may be exercised up to 24 hours prior to closing of the offering, to purchase up to 5,900,000 additional common share special warrants at a price of $0.34 per warrant, on the same terms as the offering or the Over-Allotment Option. If the Over-Allotment Option is fully exercised, the gross proceeds from the offering will be about $8 million. Great Plains Exploration Inc.
shares T.GPX are trading down $0.03 at $0.35.
