By Sheri Kasprzak
New York, Nov. 17 - Fairmount Energy Inc. said it has completed its previously announced private placement with a fully exercised greenshoe for C$5,004,000.
The company issued 1.46 million flow-through shares, including a greenshoe for 210,000 shares, at C$2.40 each and 750,000 non flow-through shares, including a greenshoe for 250,000 additional shares, at C$2.00 each.
GMP Securities Ltd. was the placement agent.
The offering was first announced Nov. 1 as a C$4 million deal comprised of up to 1.25 million flow-through shares and up to 500,000 non flow-through shares under the same terms.
Proceeds will be used for exploration and development and for general corporate purposes.
Based in Calgary, Alta., Fairmount is an oil and natural gas exploration company.
| Issuer: | Fairmount Energy Inc.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$5,004,000
|
| Placement agent: | GMP Securities Ltd.
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 16
|
| Stock price: | C$2.10 at close Oct. 31
|
| Stock price: | C$2.00 at close Nov. 16
|
|
|
| Flow-through shares
|
| Shares: | 1.46 million (includes greenshoe for 210,000 shares)
|
| Price: | C$2.40
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 750,000 (includes greenshoe for 250,000 shares)
|
| Price: | C$2.00
|
| Warrants: | No
|
|
|
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