Offering of flow-through stock was brokered by agent MGI Securities
By Devika Patel
Knoxville, Tenn., April 26 - Contact Exploration Inc. said it settled a C$1.33 million private placement of stock. MGI Securities Inc. was the agent for the deal, which priced for C$2 million on March 14.
The company sold 10,254,000 flow-through common shares at C$0.13 each on a best-efforts basis. The price per share represents a 30% premium to the March 13 closing share price of C$0.10.
Proceeds will be used for exploration.
Contact is an oil and gas exploration company based in Calgary, Alta.
Issuer: | Contact Exploration Inc.
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Issue: | Flow-through common stock
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Amount: | C$1,333,020
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Shares: | 10,254,000
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Price: | C$0.13
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Warrants: | No
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Agent: | MGI Securities Inc.
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Pricing date: | March 14
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Settlement date: | April 25
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Stock symbol: | TSX Venture: CEX
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Stock price: | C$0.10 at close March 13
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Market capitalization: | C$14.67 million
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