Published on 9/4/2009 in the Prospect News PIPE Daily.
New Issue: Frontera Resources arranges £3.7 million private placement of stock
By Devika Patel
Knoxville, Tenn., Sept. 4 - Frontera Resources Corp. said it plans a £3.7 million private placement of stock via agent Canaccord Adams Ltd.
The company will sell 35,793,300 shares at 10.3p per share. Each share will be accompanied by a two-year warrant, which is exercisable at 15p.
Frontera is an independent oil and gas exploration and production company with headquarters in Houston.
| Issuer: | Frontera Resources Corp.
|
| Issue: | Shares
|
| Amount: | £3,686,709.90
|
| Shares: | 35,793,300
|
| Price: | 10.3p
|
| Warrants: | One warrant per share
|
| Warrant expiration: | Two years
|
| Warrant strike price: | 15p
|
| Agent: | Canaccord Adams Ltd.
|
| Pricing date: | Sept. 4
|
| Stock symbol: | London: FRR
|
| Stock price: | 10.5p at close Sept. 4
|
| Market capitalization: | £6.74 million
|
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