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Investor Information
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More Information on Sedar
Capital Funding
Capital funding for the 2005 oil and gas exploration program has been provided through a series of non-brokered private placements. Shareholders have approved private placements of up to 100% of the number of issued shares, if required to finance future business opportunities.
On December 28, 2004, Huntington completed a private placement of 2,666,667 units consisting of one common share and one common share purchase warrant priced at $0.15 per unit for total gross proceeds of $400,000. The common shares were issued on a flow-through basis for Canadian income tax purposes. Terms of the attached common share purchase warrants included an exercise price of $0.20 per share until their expiry on September 30, 2005.
Huntington completed a non-brokered private placement on June 10, 2005 consisting of 2,500,000 Common Shares priced at $0.20 per share for total gross proceeds of $500,000. One-half of the Common Shares were issued on a flow-through basis and all shares issued are subject to a four-month hold period. One-half of the issue was purchased by insiders. The use of proceeds of the private placement was to fund the Corporation's exploration and development activities and for general corporate purposes. No commissions or fees were payable on the private placement.
On August 9, 2005, Huntington announced a non-brokered private placement for up to 3,750,000 common shares to be issued on a "flow-through" basis at a subscription price of $0.20 per share. This offering was subsequently increased to 5,000,000 shares. The private placement of shares closed on August 19, 2005 for total gross proceeds of $1,000,000. Shares issued are subject to a four-month hold period.
On September 30, 2005, 2,245,597 share purchase warrants were exercised by the warrant holders at a price of $0.20 per share that yielded total gross proceeds of $449,119 and resulted in the issuance of 2,245,597 common shares.
Shareholder's Equity
| Shares | $ | |
| Balance, November 20, 2004: | 14,344,059 | 4,929,233 |
| Issued for cash: | 2,666,667 | 400,000 |
| Share issuance costs: | (25,480) | |
| Balance, December 31, 2004: | 17,010,726 | 5,303,753 |
| Issued for cash: | 7,500,000 | 1,500,000 |
| Exercise of warrants: | 2,245,597 | 449,119 |
| Share issuance costs: | (52,132) | |
| Balance, September 30, 2005: | 26,756,323 | 7,200,740 |
Board of Directors
| C. Alan Smith Calgary, Alberta | President and Chief Executive Office |
| A. S. Burgess Calgary, Alberta | Vice-President and Chief Financial Officer |
| Hubert R. Marleau Montreal, Quebec | President and CEO, Palos Capital Corporation |
| John A. Pope Calgary, Alberta | Vice-President Operations Riley Resources Inc. |
| William H. Smith, Q.C. Calgary, Alberta | McCarthy Tétrault LLP |
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