By Devika Patel
Knoxville, Tenn., Oct. 28 - Ironhorse Oil & Gas Inc. said it will raise C$3 million in a private placement of stock.
The company will sell 2,143,000 flow-through common shares at C$1.40 per share on a bought-deal basis.
The deal will be conducted by Dundee Securities Corp. There is a greenshoe for C$1 million.
Settlement is expected Nov. 19.
Proceeds will be used for exploration.
Ironhorse is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Ironhorse Oil & Gas Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3 million
|
| Greenshoe: | C$1 million
|
| Shares: | 2,143,000
|
| Price: | C$1.40
|
| Warrants: | No
|
| Agents: | Dundee Securities Corp.
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 19
|
| Stock symbol: | TSX Venture: IOG
|
| Stock price: | C$1.20 at close Oct. 27
|
| Market capitalization: | C$26.2 million
|
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