By Devika Patel
Knoxville, Tenn., July 18 - Lexaria Corp. announced that it has secured a private placement of C$1.05 million.
Lexaria sold 2.1 million units at C$0.50 apiece and has received the funds from the sale.
Each unit consists of one restricted common share and one warrant. The warrants are exercisable for two years at C$0.60. If they all are exercised, the company will take in approximately C$1.26 million from the warrants.
No commissions will be paid for this deal.
Proceeds will be used for development and drilling in Mississippi.
Lexaria is a Vancouver, B.C.-based oil and gas company.
| Issuer: | Lexaria Corp.
|
| Issue: | Units of one restricted common share and one warrant
|
| Amount: | C$1.05 million
|
| Units: | 2.1 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Announcement date: | July 18
|
| Stock symbol: | OTC Bulletin Board: LXRA
|
| Stock price: | $1.00 at close July 17
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
