By Sheri Kasprzak
Atlanta, April 11 - Falcon Oil & Gas Ltd. said it has closed a private placement for C$49.5 million and completed its acquisition of Mako Energy Corp.
Falcon sold 165 million shares at C$0.30 each.
The funds from the offering had been held in escrow until the completion of the acquisition.
McFarlane Gordon Inc. was the placement agent in the transaction.
Under the terms of the acquisition, Falcon acquired all of Mako's shares on the basis of 10 Falcon shares for each share of Mako.
Based in Toronto, Falcon is an oil and natural gas exploration and development company.
| Issuer: | Falcon Oil & Gas Ltd.
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| Issue: | Stock
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| Amount: | C$49.5 million
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| Shares: | 165 million
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| Price: | C$0.30
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| Warrants: | No
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| Placement agent: | McFarlane Gordon Inc.
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| Settlement date: | April 11
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| Stock price: | C$0.45 at close Feb. 11 (last trade)
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