Landdrill International Inc. Announces up to C$10 million Private Placement


MONCTON, NB, Jan. 18 /CNW/ - Landdrill International Inc. (the "Company") (TSX-V: LDI) is pleased to announce that it has engaged a syndicate of agents led by Jennings Capital Inc. and including PowerOne Capital Markets Limited to proceed with a private placement offering of up to C$10 million of units on a "best efforts basis" at a price of C$0.30 per unit (the "Offering"). Each unit will consist of one common share and one half of one common share purchase warrant (the "Warrant"). Each whole Warrant will entitle the holder to purchase one common share for an exercise price of C$0.45 for 18 months following completion of the Offering.

Proceeds of the Offering will be used for repayment of debt and general corporate purposes.

The Offering is scheduled to close on or about January 31, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The securities to be issued under the Offering will be offered in all the provinces of Canada by way of private placement exemptions, and offshore, including in the United Kingdom, pursuant to applicable exemptions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act").

The securities offered have not been and will not be registered under the U.S. Securities Act, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.

About Landdrill

Landdrill is a growth oriented international drilling company with a focus on the metals and minerals industry. The Company continues to explore opportunities for growth in key markets, either through establishment of new branch offices or through acquisitions as opportunities arise. The Company now has 36 drills with full branch operations in Canada, Mexico, Mongolia and Russia.

Forward-looking information

This press release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Landdrill International Inc. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions and include statements in respect of the timing for completion of the Offering, the use of proceeds and the exercise of the over-allotment option. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available at

There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


For further information:

Ronald Goguen
President and Chief Executive Officer
Landdrill International Inc.
(506) 388 - 8961

Renmark Financial Communications Inc.
John Bodiman:
Peter Mahzari:
Tel.: (514) 939-3989 or (416) 644-2020

Profil de l'entreprise


Renseignements sur cet organisme


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.