By Sheri Kasprzak
Atlanta, Nov. 30 - Forte Resources Inc. said Tuesday it raised C$6.45 million in a private placement.
The company will issue 1.5 million flow-through common shares at C$4.30 each.
The deal, placed through a syndicate of underwriters led by FirstEnergy Capital Corp., is expected to close Dec. 16.
Forte, based in Calgary, Alta., is an oil and gas exploration company. It plans to use the proceeds from the financing for its exploration activities.
| Issuer: | Forte Resources Inc.
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| Issue: | Flow-through common shares
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| Amount: | C$6.45 million
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| Shares: | 1.5 million
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| Price: | C$4.30
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| Warrants: | No
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| Underwriters: | FirstEnergy Capital Corp. (lead)
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| Announcement date: | Nov. 30
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| Settlement date: | Dec. 16
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| Stock price: | C$3.52 at close Nov. 30
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