By Sheri Kasprzak
Atlanta, Feb. 7 - Matador Exploration Inc. said it will hit the private placement market with a non-brokered C$1.5 million offering.
The deal includes 4 million units at C$0.375 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$0.50 each for two years.
Matador, based in Edmonton, Alta., is a mineral exploration company. The proceeds from the private placement will be used for acquisitions, working capital and general corporate purposes.
| Issuer: | Matador Exploration Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.5 million
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| Units: | 4 million
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| Price: | C$0.375
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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$0.50
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| Pricing date: | Feb. 7
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| Stock price: | C$0.61 at close Feb. 7
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