By Devika Patel
Knoxville, Tenn., Aug. 29 - Lands End Resources Ltd. said it completed the initial tranche of a C$2 million non-brokered private placement of stock, raising C$398,750. The deal priced July 9.
The company plans to sell 8 million common shares total at C$0.25 per share. It sold 1,595,000 shares in this tranche.
Proceeds will be used for working capital and to fund potential property acquisitions.
Lands End is an oil and natural gas exploration, development and production company based in Calgary, Alta.
| Issuer: | Lands End Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$2 million
|
| Shares: | 8 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 9
|
| Settlement date: | Aug. 29 (for C$398,750)
|
| Stock symbol: | CNQ: LAND
|
| Stock price: | C$0.24 at close July 9
|
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