Non-brokered offering sells 2.7 million common shares at C$0.40 each
By Devika Patel
Knoxville, Tenn., July 2 – Forent Energy Ltd. said it settled a C$1.08 million non-brokered private placement of stock. The deal priced for C$1 million on June 3.
The company sold 2.7 million common shares at C$0.40 apiece. The price per share represents a 1,900% premium to the June 2 closing share price of C$0.02.
Proceeds will be used to strengthen Forent’s balance sheet and for general corporate purposes.
Based in Calgary, Alta., Forent is an emerging, junior, privately held petroleum and natural gas exploration, development and production company.
| Issuer: | Forent Energy Ltd.
|
| Issue: | Common shares
|
| Amount: | C$1.08 million
|
| Shares: | 2.7 million
|
| Price: | C$0.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 3
|
| Settlement date: | July 2
|
| Stock symbol: | TSX Venture: FEN
|
| Stock price: | C$0.02 at close June 2
|
| Market capitalization: | C$3.96 million
|
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