Oil explorer sells shares and half-share warrants in non-brokered deal
By Devika Patel
Knoxville, Tenn., Dec. 10 - Donnybrook Energy Inc. said it increased a non-brokered private placement that priced Dec. 8. The company will now raise C$3 million, increased from C$2 million, and will now sell flow-through common stock along with the units it originally announced.
The company will sell a combination of flow-through shares at C$0.475 apiece and units of one common share and a half-share warrant at C$0.40 apiece.
Each whole warrant will be exercisable at C$0.55 for one year, a 22.22% premium to the closing share price on Dec. 7 of C$0.45. The price per share is a 5.56% premium to that price.
Donnybrook Energy is an oil and natural gas exploration and production company in Calgary, Alta.
| Issuer: | Donnybrook Energy Inc.
|
| Issue: | Units of one common share and a half-share warrant, flow-through shares
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| Amount: | C$3 million
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| Agent: | Non-brokered
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| Pricing date: | Dec. 8
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| Revised: | Dec. 10
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| Stock symbol: | TSX Venture: DEI
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| Stock price: | C$0.44 at close Dec. 8
|
| Market capitalization: | C$51.77 million
|
|
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| Units
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| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.55
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|
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| Shares
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| Price: | C$0.475
|
| Warrants: | No
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