By Sheri Kasprzak
Atlanta, May 18 - Landmark Oil & Gas Corp. said it plans to head to the private placement market with an offering for up to C$2 million.
The company plans to sell 8 million shares at C$0.25 each in a non-brokered offering.
The units include one flow-through share and one common-share warrant. The warrants allow for an additional share at C$0.40 each for two years.
The deal is expected to close June 24.
Based in Calgary, Alta., Landmark is an oil and natural gas exploration company. The proceeds will be used for drilling at the Peace River Arch property and for general working capital.
Issuer: | Landmark Oil & Gas Corp.
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Issue: | Units of one flow-through share and one warrant
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Amount: | C$2 million (maximum)
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Units: | 8 million (maximum)
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Price: | C$0.25
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.40
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Pricing date: | May 17
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Settlement date: | June 24
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Stock price: | C$0.19 at close May 17
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