By Sheri Kasprzak
New York, June 16 - Albion Petroleum Ltd. priced a C$15 million private placement.
The offering includes 30 million receipts, which are exchangeable on a one-for-one basis for units.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$0.75 for one year.
Albion, based in Calgary, Alta., is an oil and natural gas exploration company.
| Issuer: | Albion Petroleum Ltd.
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| Issue: | Subscription receipts exchangeable for units of one share and one half-share warrant
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| Amount: | C$15 million
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| Receipts: | 30 million
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| Price: | C$0.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.75
|
| Pricing date: | June 16
|
| Stock symbol: | TSX Venture: ABP
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| Stock price: | C$0.42 at close June 16
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