By Angela McDaniels
Tacoma, Wash., July 6 - Cumberland Oil & Gas Ltd. closed a C$907,500 private placement of flow-through common shares on Monday, according to a company news release.
The company sold 3.3 million shares for C$0.275 each.
Proceeds will be used to fund ongoing drilling.
When the Calgary, Alta.-based oil and natural gas explorer first announced the placement on June 29, it had planned to sell 3,637,000 shares for a total of C$1 million.
| Issuer: | Cumberland Oil & Gas Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$907,500
|
| Shares: | 3.3 million
|
| Price: | C$0.275
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 29
|
| Settlement date: | July 5
|
| Stock symbol: | TSX Venture: COG
|
| Stock price: | C$0.23 at close June 29
|
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