Warrants will now be exercisable at C$0.475 per share for three years
By Devika Patel
Knoxville, Tenn., June 23 - Doxa Energy Ltd. said it amended the terms of the warrants it is selling in a non-brokered private placement of units. The deal priced for C$2 million on June 13.
The company is selling 5,714,286 units of one common share and one warrant at C$0.35 apiece.
Each warrant is now exercisable at C$0.475 for three years. The strike price is a 35.71% premium to the June 10 closing share price of C$0.35. The warrants previously were exercisable at C$0.55 for two years.
Proceeds will be used for the company's oil and gas projects in Texas and to exercise its option to acquire a 20% share of leasehold from Dynamic Production, Inc. in the Mississippian Oil Play in Oklahoma.
Based in Vancouver, B.C., Doxa Energy is an oil and gas exploration and production company.
| Issuer: | Doxa Energy Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 5,714,286
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.475
|
| Agent: | Non-brokered
|
| Pricing date: | June 13
|
| Revised: | June 23
|
| Stock symbol: | TSX Venture: DXA
|
| Stock price: | C$0.35 at close June 10
|
| Market capitalization: | C$10.68 million
|
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