Non-brokered offering finances exploration and development drilling
By Devika Patel
Knoxville, Tenn., Dec. 29 - Invicta Energy Corp. said it raised C$150,050 in the second tranche of a C$4 million non-brokered private placement of stock. The deal priced Dec. 12, and the company took in C$2.71 million on Dec. 22 for a total so far of C$2.86 million.
Invicta is selling flow-through common shares at C$0.145 apiece and common shares at C$0.13 apiece. The prices per share are a 3.57% premium and a 7.14% discount, respectively, to C$0.14, the Dec. 9 closing share price.
In the first tranche, Invicta sold 10,345,653 flow-through shares and 9,305,850 common shares. It sold 1,154,230 common shares in the second tranche on Wednesday.
Proceeds will be used for exploration, development drilling, acquisitions or land sales and general corporate purposes.
Invicta is a Calgary, Alta., petroleum and natural gas development and production company.
| Issuer: | Invicta Energy Corp.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$4 million
|
| Price: | C$0.145 per flow-through share, C$0.13 per common share
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 12
|
| Settlement dates: | Dec. 22 (for C$2,709,880), Dec. 28 (for C$150,050)
|
| Stock symbol: | TSX Venture: VCA
|
| Stock price: | C$0.14 at close Dec. 9
|
| Market capitalization: | C$7.65 million
|
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