By Sheri Kasprzak
New York, Feb. 17 - Flying A Petroleum Ltd. said it plans to raise C$2.1 million in a private placement.
The company intends to sell 6 million units at C$0.35 each on a non-brokered basis.
The units include one share and one warrant. The warrants are exercisable at C$0.40 each for two years.
Proceeds will be used for exploration and for working capital.
Based in Vancouver, B.C., Flying A is an oil and natural gas exploration company.
| Issuer: | Flying A Petroleum Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.1 million
|
| Units: | 6 million
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| Price: | C$0.35
|
| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.40
|
| Placement agent: | Non-brokered
|
| Pricing date: | Feb. 17
|
| Stock symbol: | TSX Venture: FAB
|
| Stock price: | C$0.355 at close Feb. 17
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