By Sheri Kasprzak
New York, Jan. 31 - Enterprise Oil Ltd. said it increased to C$4,580,400 its previously announced C$3.08 million private placement.
The offering now includes 4,164,000 units at C$1.10 apiece.
The units consist of one share and one warrant. The warrants are exercisable at C$1.50 each for one year.
The offering was priced on Jan. 25 when the company said it intended to sell 2.8 million units at the same price.
A syndicate of placement agents led by Research Capital Corp. and including Westwind Partners Inc. has an over-allotment option for up to 15% of the offering size.
Proceeds will be used for possible acquisitions and working capital.
Based in St. Albert, Alta., Enterprise is an oil and natural gas exploration and development company.
| Issuer: | Enterprise Oil Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$4,580,400
|
| Units: | 4,164,000
|
| Price: | C$1.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.50
|
| Placement agent: | Research Capital Corp. (lead), Westwind Partners Inc.
|
| Pricing date: | Jan. 25
|
| Upsized: | Jan. 31
|
| Stock symbol: | TSX Venture: EON
|
| Stock price: | C$1.10 at close Jan. 24
|
| Stock price: | C$1.35 at close Jan. 30
|
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