By Devika Patel
Knoxville, Tenn., April 15 - Ironhorse Oil & Gas Inc. said it took in C$5.16 million through a private placement of stock. The deal priced for C$5.04 million with a C$1 million greenshoe on March 22.
The company sold 3,683,143 flow-through common shares at C$1.40 per share. Of the shares, 83,143 were part of the partially exercised greenshoe.
Half of the shares were sold on a bought-deal basis, with the remainder selling on a best-efforts basis.
The deal was conducted by a syndicate of underwriters led by Jacob Securities Inc. and including Dundee Securities Corp. and Haywood Securities Inc.
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$5,156,400 (including C$116,400 greenshoe)
|
| Shares: | 3,683,143
|
| Price: | C$1.40
|
| Warrants: | No
|
| Agents: | Jacob Securities Inc. (lead), Dundee Securities Corp., Haywood Securities Inc.
|
| Pricing date: | March 22
|
| Settlement date: | April 15
|
| Stock symbol: | TSX Venture: IOG
|
| Stock price: | C$1.21 at close March 22
|
| Market capitalization: | C$26.4 million
|
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