Deal was related to reverse takeover for purchase of oil, gas leases
By Susanna Moon
Chicago, Feb. 17 - Mountainview Energy Ltd. said it completed a non-brokered private placement of units for C$4.73 million in connection with acquisition of 62 oil and gas leases.
The company placed 21 million units consisting of one common share and one quarter-share purchase warrant at C$0.225 per unit. Each warrant is exercisable for six months at C$0.32, a 41.82% discount to the Feb. 16 closing share price of C$0.55.
Mountainview said it completed a reverse takeover involving the acquisition of 62 oil and gas leases covering 11,066 acres in Sheridan County, Mont., and Williams and Divide Counties, N.D.
Mountainview Energy is an oil and gas company based in Toronto.
| Issuer: | Mountainview Energy Ltd.
|
| Issue: | Units of one common share and one quarter-share warrant
|
| Amount: | C$4,725,000
|
| Units: | 21 million
|
| Price: | C$0.225
|
| Warrants: | One quarter-share per unit
|
| Warrant expiration: | Six months
|
| Warrant strike price: | C$0.32
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 17
|
| Stock symbol: | Canada: MVW
|
| Stock price: | C$0.55 at close Feb. 16
|
| Market capitalization: | C$5.37 million
|
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