By Laura Lutz
Des Moines, Feb. 14 - G2 Resources Inc. announced plans for a private placement of flow-through and non flow-through units for a maximum of C$8 million and a minimum of C$5 million.
Each flow-through unit will consist of one flow-through class A common share and one half-share warrant. Each non flow-through unit will consist of one non flow-through class A common share and one warrant.
The flow-through units will be priced at C$0.58 per unit and the non flow-through units at C$0.55 per unit.
The company will not sell more than C$2 million of flow-through units.
The warrants from both sets of units will be exercisable at C$0.80 each for two years.
Expiry of the warrants may be accelerated if the company's class A shares trade at or above C$1.20 for a specified period. The expiration may be extended by one year if the class A shares are approved for listing on either the Toronto Stock Exchange or Tier 1 of the TSX Venture Exchange during the life of the warrants.
Proceeds from the flow-through units will be used for the company's capital expenditure program. Proceeds from the non flow-through units will be used for working capital including the repayment of debt.
Settlement is expected on Feb. 28.
G2 is an oil and gas exploration company based in Calgary, Alta.
| Issuer: | G2 Resources Inc.
|
| Issue: | Units of one flow-through class A share and one half-share warrant; units of one non flow-through class A share and one warrant
|
| Amount: | C$8 million (maximum); C$5 million (minimum)
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 28
|
| Stock symbol: | TSX Venture: GRT
|
| Stock price: | C$0.55 at close Feb. 13
|
|
|
| Flow-through units
|
| Amount: | C$2 million (maximum)
|
| Price: | C$0.58
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80
|
|
|
| Non flow-through units
|
| Price: | C$0.55
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80
|
© 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.
