By Sheri Kasprzak
New York, April 11 - Ironhorse Oil & Gas Inc. said it intends to raise C$5,225,000 from a private placement of shares.
The non-brokered offering includes up to 1.65 million shares at C$2.25 each and up to 550,000 flow-through shares at C$2.75 each.
Proceeds will be used for the construction of the company's gas plant and for the development of the company's properties in Saskatchewan.
Based in Calgary, Alta., Ironhorse is an oil and natural gas exploration company.
| Issuer: | Ironhorse Oil & Gas Inc.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$5,225,000
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 11
|
| Stock symbol: | TSX Venture: IOG
|
| Stock price: | C$2.40 at close April 11
|
|
|
| Non flow-through shares
|
| Shares: | 1.65 million
|
| Price: | C$2.25
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 550,000
|
| Price: | C$2.75
|
| Warrants: | No
|
|
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