By Devika Patel
Knoxville, Tenn., May 26 - Doxa Energy Ltd. announced it settled a C$2.6 million private placement of units. The company also said it acquired a 20% working interest and 15% net revenue interest in the oil and gas leases comprising the Peeler Eagle Ford Shale Prospect.
The company sold 5,205,000 units at C$0.50 apiece. Of the units, 2.2 million were sold to chairman Arnold Armstrong. The units consist of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$0.75.
Proceeds will be used for exploration.
Based in Vancouver, B.C., Doxa Energy is a capital pool company.
| Issuer: | Doxa Energy Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$2,602,500
|
| Units: | 5,205,000
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Investor: | Arnold Armstrong (for C$1.1 million)
|
| Settlement date: | May 26
|
| Stock symbol: | TSX Venture: DXA
|
| Stock price: | C$0.17 at close May 25
|
© 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.
