By Sheri Kasprzak
New York, Aug. 14 - Eastshore Energy Ltd. said the greenshoe was partially exercised on its previously announced private placement, lifting the proceeds to C$10,583,750.
The company sold 8,467,000 class A shares at C$1.25 each, including the over-allotment option for 467,000 shares exercised by agent Jennings Capital Inc.
The deal priced July 19 as a C$10 million offering of 8 million shares. The agent had been granted a greenshoe for up to 2 million additional shares.
Proceeds will be used for ongoing exploration and development.
Calgary, Alta.-based Eastshore is an oil and natural gas exploration, development and production company.
| Issuer: | Eastshore Energy Ltd.
|
| Issue: | Stock
|
| Amount: | C$10,583,750
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| Shares: | 8,467,000 (includes greenshoe for 467,000 shares)
|
| Price: | C$1.25
|
| Warrants: | No
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| Placement agent: | Jennings Capital Inc.
|
| Pricing date: | July 19
|
| Settlement date: | Aug. 14
|
| Stock symbol: | TSX Venture: EST
|
| Stock price: | C$1.30 at close July 19
|
| Stock price: | C$1.28 at close Aug. 14
|
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