By Sheri Kasprzak
New York, July 11 - Jura Energy Corp. priced a C$15 million private placement.
The offering includes up to 15 million units of one share and one warrant. The warrants are exercisable at C$1.50 each for one year.
The expiry of the warrants may be accelerated to 60 days if the company's stock trades above C$2.50 for more than 20 consecutive trading days.
The placement is being conducted through a syndicate of agents led by Westwind Partners Inc. and including Quest Securities Corp.
The deal is scheduled to close July 25.
Proceeds will be used for capital expenditures at subsidiary Frontier Holdings Ltd.'s oil and gas projects in Pakistan. The rest will be used for general corporate purposes.
Calgary, Alta.-based Jura is an oil and natural gas exploration company.
| Issuer: | Jura Energy Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$15 million
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| Units: | 15 million
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| Price: | C$1.00
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.50
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| Placement agents: | Westwind Partners Inc. (lead), Quest Securities Corp.
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| Pricing date: | July 11
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| Settlement date: | July 25
|
| Stock symbol: | Toronto: JEC
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| Stock price: | C$1.30 at close July 10
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