Deal sells 5 million units of one share, one warrant at C$0.20 apiece
By Devika Patel
Knoxville, Tenn., Oct. 31 - Jadela Oil Corp. said on Tuesday that it plans a C$1 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one warrant at C$0.20 per unit.
Each warrant will be exercisable at C$0.30 for two years. The strike price reflects a 50% premium to the Oct. 29 closing share price of C$0.20.
Settlement is expected by Dec. 15.
Jadela is an oil and gas exploration company based in Calgary, Alta.
Issuer: | Jadela Oil Corp.
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Issue: | Units of one common share and one warrant
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Amount: | C$1 million
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Units: | 5 million
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Price: | C$0.20
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.30
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Agent: | Non-brokered
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Pricing date: | Oct. 30
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Settlement date: | Dec. 15
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Stock symbol: | TSX Venture: JOC
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Stock price: | C$0.20 at close Oct. 29
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Market capitalization: | C$5.31 million
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