By Devika Patel
Knoxville, Tenn., May 19 - Anglo Canadian Oil Corp. said it has completed a C$2.5 million non-brokered private placement of shares and units.
The company raised C$5 million via agent Mackie Research Capital Corp. in a similar placement on May 11.
The company sold 5,635,000 flow-through common shares at C$0.20 each, generating C$1.13 million of proceeds. Anglo Canadian also sold 7,627,783 units at C$0.18 apiece for C$1.37 million.
Each unit consists of one share and one half-share warrant, with each whole warrant exercisable at C$0.25 for one year.
Proceeds will be used for drilling and evaluating Anglo Canadian's newly acquired Nordegg oil shale property in West Central Alberta as well as operations on Anglo Canadian's Southwest Saskatchewan Bakken oil bearing lands and for general corporate purposes.
Anglo Canadian is a Calgary, Alta.-based petroleum and natural gas company.
| Issuer: | Anglo Canadian Oil Corp.
|
| Issue: | Flow-through common shares, units of one share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Agents: | Non-brokered
|
| Settlement date: | May 19
|
| Stock symbol: | TSX Venture: ACG
|
| Stock price: | C$0.31 at close May 19
|
| Market capitalization: | C$23.6 million
|
|
|
| Flow-through shares
|
| Amount: | C$1,127,000
|
| Shares: | 5,635,000
|
| Price: | C$0.20
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$1,373,001
|
| Units: | 7,627,783
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
