By Laura Lutz
Washington, Jan. 31 - Ironhorse Oil & Gas Inc. closed a downsized private placement of units for C$5.8 million.
The company sold 906,250 units at C$6.40 per unit. Each unit consists of two non flow-through shares and one flow-through share.
The deal priced on Jan. 11 as an offering of up to 1.25 million units for up to C$8 million.
Proceeds will be used for expansion and drilling on the company's lands in southwest Saskatchewan and northeast British Columbia.
Ironhorse is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Ironhorse Oil & Gas Inc.
|
| Issue: | Units of two non flow-through shares (at $2.00 each) and one flow-through share (at C$2.40)
|
| Amount: | C$5.8 million
|
| Units: | 906,250
|
| Price: | C$6.40
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 12
|
| Settlement date: | Jan. 31
|
| Stock symbol: | TSX Venture: IOG
|
| Stock price: | C$2.03 at close Jan. 11
|
| Stock price: | C$1.99 at close Jan. 31
|
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