New Issue: Cinch Energy completes C$2.73 million private placement of common stock

By Devika Patel

Knoxville, Tenn., Aug. 27 - Cinch Energy Corp. announced it concluded a C$2.73 million non-brokered private placement of stock. The deal priced for C$2.81 million on Aug. 13.

The company sold 3,211,900 flow-through common shares at C$0.85 apiece.

Proceeds will be used for drilling and exploration.

Cinch is a Calgary, Alta.-based oil and natural gas company.

Issuer:	Cinch Energy Corp.
Issue:	Flow-through common shares
Amount:	C$2,730,115
Shares:	3,211,900
Price:	C$0.85
Warrants:	No
Agent:	Non-brokered
Pricing date:	Aug. 13
Settlement date:	Aug. 27
Stock symbol:	Toronto: CNH
Stock price:	C$0.76 at close Aug. 13
Market capitalization:	C$43.4 million

© 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.