Deal funds general corporate purposes; offer sells two types of shares
By Devika Patel
Knoxville, Tenn., Jan. 30 - Forent Energy Ltd. said it plans a non-brokered private placement of stock to raise between C$1 million and C$1.5 million.
Forent Energy will sell common shares at C$0.05 apiece, which is identical to the Jan. 29 closing share price. It also will sell up to C$500,000 of flow-through common shares at C$0.06 apiece, a 20% premium to the Jan. 29 closing share price.
Proceeds will be used for general corporate purposes.
Based in Calgary, Alta., Forent is a petroleum and natural gas exploration, development and production company.
| Issuer: | Forent Energy Ltd.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$1 million (minimum), C$1.5 million (maximum)
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 30
|
| Stock symbol: | TSX Venture: FEN
|
| Stock price: | C$0.05 at close Jan. 29
|
| Market capitalization: | C$6.78 million
|
|
|
| Common stock
|
| Price: | C$0.05
|
|
|
| Flow-through stock
|
| Amount: | C$500,000 (maximum)
|
| Price: | C$0.06
|
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