By Devika Patel
Knoxville, Tenn., Dec. 2 - Magnum Energy Inc. said it plans a C$2.04 million non-brokered private placement of stock.
The company will sell 4 million flow-through shares at C$0.51 per share.
Proceeds will be used for exploration and development.
Based in Vancouver, B.C., Magnum Energy is a junior oil and gas exploration company operating in the Western Canadian Sedimentary Basin.
| Issuer: | Magnum Energy Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$2.04 million
|
| Shares: | 4 million
|
| Price: | C$0.51
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Pricing date: | Dec. 2
|
| Stock symbol: | TSX Venture: MEN
|
| Stock price: | C$0.43 at close Dec. 1
|
| Market capitalization: | C$11.6 million
|
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