By Sheri Kasprzak
New York, Oct. 18 - Cork Exploration Inc. plans to raise up to C$15,003,000 in a private placement.
The deal includes up to 3,334,000 flow-through shares at C$4.50 each.
The offering is being placed through an underwriting syndicate led by Tristone Capital Inc. and including FirstEnergy Capital Corp. and Westwind Partners Inc.
The placement is set to close Nov. 8.
Proceeds will be used for exploration on the company's Canadian properties.
Calgary, Alta.-based Cork is an oil and natural gas exploration, development and production company.
| Issuer: | Cork Exploration Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$15,003,000
|
| Shares: | 3,334,000
|
| Price: | C$4.50
|
| Warrants: | No
|
| Underwriters: | Tristone Capital Inc. (lead), FirstEnergy Capital Corp. and Westwind Partners Inc.
|
| Pricing date: | Oct. 18
|
| Settlement date: | Nov. 8
|
| Stock symbol: | Toronto: CRK
|
| Stock price: | C$3.53 at close Oct. 17
|
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