By Sheri Kasprzak
Atlanta, Jan. 26 - Maverick Oil & Gas Inc. has wrapped a private placement of units for $30 million.
The company sold 15 million units at $2 each. The units include two shares and one warrant.
The warrants allow for an additional share at $2 each for three years.
The offering was conducted in two tranches, one in the United States and the other in Europe. The European tranche was led by two institutional investors.
Part of the U.S. tranche was managed by Legend Merchant Group Inc.
Maverick is a London-based oil and gas exploration, development and production company. It plans to use the proceeds from the private placement for the development of its two Texas projects in the Maverick Basin and Barnett Shale regions. Part of the proceeds will be used for the development of opportunities in the United States, and part will be used for international developments.
| Issuer: | Maverick Oil & Gas Inc.
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| Issue: | Units of two shares and one warrant
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| Amount: | $30 million
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| Units: | 15 million
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| Price: | $2.00
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| Warrants: | One warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | $2.00
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| Placement agent: | Legend Merchant Group Inc.
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| Settlement date: | Jan. 26
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| Stock price: | $1.82 at close Jan. 26
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