Non-brokered offering expected to fund exploration, corporate purposes
By Devika Patel
Knoxville, Tenn., Oct. 30 – Caiterra International Energy Corp. said it will conduct a C$5 million non-brokered private placement of stock.
The company will sell 5 million flow-through common shares at C$0.30 apiece and 14 million common shares at C$0.25 apiece. The prices per share are 27.28% and 13.64% premiums, respectively, to C$0.22, the Oct. 29 closing share price.
Proceeds will be used for exploration and general corporate purposes.
The oil and gas exploration and development company is based in Vancouver, B.C.
| Issuer: | Caiterra International Energy Corp.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$5 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 30
|
| Stock symbol: | TSX Venture: CTI
|
| Stock price: | C$0.22 at close Oct. 29
|
| Market capitalization: | C$14.8 million
|
|
|
| Flow-through stock
|
| Amount: | C$1.5 million
|
| Shares: | 5 million
|
| Price: | C$0.30
|
|
|
| Common stock
|
| Amount: | C$3.5 million
|
| Shares: | 14 million
|
| Price: | C$0.25
|
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