By Sheri Kasprzak
Atlanta, May 19 - Eastshore Energy Ltd. said it plans to raise C$6,000,050 in a private placement.
The offering includes 3,428,600 class A flow-through shares at C$1.75 each.
The deal, which is expected to close June 2, is being placed through a syndicate of underwriters led by GMP Securities Ltd. and including Jennings Capital Inc.
Based in Calgary, Alta., Eastshore is an oil and natural gas exploration and development company. The proceeds will be used for exploration on the company's Hanlan gas project.
| Issuer: | Eastshore Energy Ltd.
|
| Issue: | Class A flow-through shares
|
| Amount: | C$6,000,050
|
| Shares: | 3,428,600
|
| Price: | C$1.75
|
| Warrants: | No
|
| Underwriters: | GMP Securities Ltd. (lead); Jennings Capital Inc.
|
| Pricing date: | May 19
|
| Settlement date: | June 2
|
| Stock price: | C$1.33 at close May 19
|
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