Oil company sells 266,667 common shares at $1.50 per share in offering
By Devika Patel
Knoxville, Tenn., Feb. 4 - Falconridge Oil Technologies Corp. completed a $400,000 private placement of stock on Jan. 22, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 266,667 common shares at $1.50 per share. The price per share is a 20% premium to the Jan. 21 closing share price of $1.25.
The oil explorer is based in Richmond Hill, Ont.
| Issuer: | Falconridge Oil Technologies Corp.
|
| Issue: | Common stock
|
| Amount: | $400,000
|
| Shares: | 266,667
|
| Price: | $1.50
|
| Warrants: | No
|
| Announcement date: | Feb. 4
|
| Settlement date: | Jan. 22
|
| Stock symbol: | OTCBB: FROT
|
| Stock price: | $1.25 at close Jan. 21
|
| Market capitalization: | $60.94 million
|
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