Deal funds operations on Belmont Lake Oil Field and working capital
By Devika Patel
Knoxville, Tenn., Nov. 4 - Lexaria Corp. settled a $30,000 tranche of a private placement of units on Nov. 1, according to a prospectus supplement filed Monday with the Securities and Exchange Commission.
The company sold 500,000 units of one common share and a warrant at $0.06 per unit. The warrants are each exercisable at $0.10 until Nov. 1, 2015. The strike price reflects a 100% premium to the Oct. 31 closing share price of $0.05.
Proceeds will be used for operations on the company's Belmont Lake Oil Field and for general working capital.
Lexaria is a Vancouver, B.C.-based oil and gas company.
| Issuer: | Lexaria Corp.
|
| Issue: | Units of one common share and a warrant
|
| Amount: | $30,000
|
| Units: | 500,000
|
| Price: | $0.06
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Nov. 1, 2015
|
| Warrant strike price: | $0.10
|
| Pricing date: | Nov. 1
|
| Stock symbol: | OTCBB: LXRP
|
| Stock price: | $0.05 at close Oct. 31
|
| Market capitalization: | $690,100
|
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