Deal sells units of one flow-through share and a half-share warrant
By Devika Patel
Knoxville, Tenn., July 29 – Questerre Energy Corp. said it settled a C$4.75 million private placement of units. The deal priced for C$3.17 million on July 18.
The company sold 26.39 million units of one flow-through common share and a half-share warrant at C$0.18 per unit.
Each whole, 18-month warrant is exercisable at C$0.20, an 11.11% premium to the July 15 closing share price of C$0.18.
Proceeds will be used for development.
The company also said its lender has renewed Questerre’s credit facility at C$30 million, which includes a C$24.9 million revolving operating demand facility and a C$5 million non-revolving acquisition and development facility.
The oil and natural gas exploration and development company is based in Calgary, Alta.
| Issuer: | Questerre Energy Corp.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$4,750,200
|
| Units: | 26.39 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Pricing date: | July 18
|
| Settlement date: | July 29
|
| Stock symbol: | Toronto: QEC
|
| Stock price: | C$0.18 at close July 15
|
| Market capitalization: | C$51.66 million
|
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