By Devika Patel
Knoxville, Tenn., Jan. 17 - Ivory Energy Inc. released additional details of a C$1.47 million non-brokered private placement of units.
The deal priced Dec. 7 and settled Dec. 24.
As previously reported, the company sold 1,965,200 units at C$0.75 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$1.00 for one year.
Ivory said that insiders bought 494,333 of the units and the company paid C$57,000 in finder's fees.
Proceeds will be used for exploration.
Ivory Energy is a Calgary, Alta.-based oil and natural gas exploration and drilling company.
| Issuer: | Ivory Energy Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1,473,900
|
| Units: | 1,965,200
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered
|
| Fees: | C$57,000
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 24
|
| Stock symbol: | TSX Venture: IV
|
| Stock price: | C$0.61 at close Dec. 7
|
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