By Sheri Kasprzak
New York, Oct. 4 - Guardian Exploration Inc. said it plans to raise C$3 million in a private placement as part of its business combination agreement with Black Hat Capital Inc.
The combination is contingent upon Guardian completing a private placement of up to 6,666,667 units at C$0.45 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.75 each for one year.
The two companies intend to combine to form a new oil and natural gas exploration and development company.
Guardian and Black Hat are both based in Calgary, Alta.
| Issuer: | Guardian Exploration Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3 million (maximum)
|
| Units: | 6,666,667 (maximum)
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Pricing date: | Oct. 3
|
| Stock price: | C$0.39 at close Sept. 9 (last trade for Black Hat)
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
