Non-brokered offering sells 10 million flow-through shares at C$0.10
By Devika Patel
Knoxville, Tenn., Dec. 13 - Forent Energy Ltd. said it plans a C$1 million non-brokered private placement of stock.
The company will sell 10 million flow-through common shares at C$0.10 apiece. The price per share represents a 25% premium to the Dec. 12 closing share price of C$0.08.
Settlement is expected on Dec. 23.
Proceeds will be used for crude oil development expenditures.
Based in Calgary, Alta., Forent is a junior privately held petroleum and natural gas exploration, development and production company.
| Issuer: | Forent Energy Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1 million
|
| Shares: | 10 million
|
| Price: | C$0.10
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 23
|
| Stock symbol: | TSX Venture: FEN
|
| Stock price: | C$0.08 at close Dec. 12
|
| Market capitalization: | C$13.24 million
|
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