By Sheri Kasprzak
Atlanta, June 15 - Huntington Exploration Inc. said it has completed a drastically downsized private placement for C$500,000. The company had originally planned to raise C$2 million.
Huntington sold a total of 2.5 million shares at C$0.20 each. Half of those shares were sold on a flow-through basis.
On May 4, the company priced the deal as including up to 5 million common shares at C$0.20 each and up to 4 million flow-through shares at C$0.25 each.
Based in Calgary, Alta., Huntington is an oil and natural gas exploration company. It plans to use the proceeds for exploration and development and for general corporate purposes.
| Issuer: | Huntington Exploration Inc.
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| Issue: | Common shares and flow-through shares
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| Amount: | C$500,000
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| Shares: | 2.5 million (1.25 million flow-through)
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| Price: | C$0.20
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| Warrants: | No
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| Pricing date: | May 4
|
| Settlement date: | June 10
|
| Stock price: | C$0.17 at close May 4
|
| Stock price: | C$0.19 at close June 10
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