By Devika Patel
Knoxville, Tenn., Oct. 9 - Cobalt Energy Ltd. said it raised C$1.01 million in a private placement of stock. The deal priced for C$2 million on Sept. 24.
The company sold 500,000 class A common shares at C$0.30 apiece for C$150,000 and 2,444,357 flow-through class A common shares at C$0.35 apiece for C$855,525.
It planned to sell up to 2 million class A common shares for C$600,000 and up to 4 million flow-through class A common shares for C$1.4 million.
Proceeds will be used to fund Cobalt's ongoing drilling and well recompletion operations in its core focus areas and for general corporate purposes.
Based in Calgary, Alta., Cobalt is a crude oil and natural gas exploration, development and production company.
Issuer: | Cobalt Energy Ltd.
|
Issue: | Class A common shares, flow-through class A common shares
|
Amount: | C$1,005,524.95
|
Warrants: | No
|
Pricing date: | Sept. 24
|
Settlement date: | Oct. 9
|
Stock symbol: | TSX Venture: CB.A
|
Stock price: | C$0.405 at close Aug. 26
|
|
Class A common shares
|
Amount: | C$150,000
|
Shares: | 500,000
|
Price: | C$0.30
|
|
Flow-through class A common shares
|
Amount: | C$855,524.95
|
Shares: | 2,444,357
|
Price: | C$0.35
|
© 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.