Offering with Integral Wealth Securities funds property acquisition
By Devika Patel
Knoxville, Tenn., Jan. 31 - Alston Energy Inc. said it will raise up to C$4.01 million in a private placement of units. Integral Wealth Securities Ltd., the agent, is conducting the offering on a best-efforts basis.
The company will sell between 6.7 million and 26.7 million units of one common share and one half-share warrant at C$0.15 per unit and up to 16,666,667 flow-through units of one flow-through common share and one half-share warrant at C$0.18 per unit.
Each whole warrant will be exercisable at C$0.20 for 18 months. The strike price is a 14.29% premium to the Jan. 30 closing share price of C$0.175.
Settlement is expected Feb. 17.
Proceeds will be used to purchase properties from Crescent Point Resources Partnership and for the company's 2012 capital expenditure program and general corporate purposes.
Alston is a Calgary, Alta., petroleum and natural gas explorer.
| Issuer: | Alston Energy Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$4,005,000 (maximum)
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Integral Wealth Securities Ltd.
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 17
|
| Stock symbol: | TSX Venture: ALO
|
| Stock price: | C$0.175 at close Jan. 31
|
| Market capitalization: | C$3.93 million
|
|
|
| Units
|
| Amount: | C$1,005,000 (minimum), C$4,005,000 (maximum)
|
| Units: | 6.7 million (minimum), 26.7 million (maximum)
|
| Price: | C$0.15
|
|
|
| Flow-through units
|
| Amount: | C$3 million (maximum)
|
| Units: | 16,666,667 (maximum)
|
| Price: | C$0.18
|
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