By Devika Patel
Knoxville, Tenn., Oct. 2 - Ironhorse Oil & Gas Inc. said it will raise C$3.5 million in a private placement of stock.
The company will sell 1,683,000 flow-through common shares at C$2.08 per share on a bought-deal basis.
The deal will be conducted by a syndicate of underwriters led by Dundee Securities Corp. and including Blackmont Capital Inc.
Settlement is expected Oct. 23.
Proceeds will be used to incur qualifying seismic and exploration drilling expenditures.
Ironhorse is an oil and natural gas company based in Calgary, Alta.
Issuer: | Ironhorse Oil & Gas Inc.
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Issue: | Flow-through common shares
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Amount: | C$3,500,640
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Shares: | 1,683,000
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Price: | C$2.08
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Warrants: | No
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Agents: | Dundee Securities Corp. (lead), Blackmont Capital Inc.
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Pricing date: | Oct. 2
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Settlement date: | Oct. 23
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Stock symbol: | TSX Venture: IOG
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Stock price: | C$1.75 at close Oct. 2
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