By Sheri Kasprzak
New York, July 20 - Milagro Energy Inc. said it has completed an upsized private placement for C$7,179,530.
The company sold a total of 2 million Canadian exploration expense flow-through shares at C$1.50 each; 1,131,500 Canadian development expense flow-through shares at C$1.44 each and 2,143,000 common shares at C$1.19 each.
The company originally announced the deal July 5 as a C$6.8 million deal comprised of 2 million Canadian exploration expense flow-through shares, 868,000 Canadian development expense flow-through shares and 2,143,000 common shares under the same pricing terms.
The proceeds will be used for exploration and development of oil and gas reserves.
Based in Calgary, Alta., Milagro is an oil and natural gas exploration and development company.
| Issuer: | Milagro Energy Inc.
|
| Issue: | Flow-through and common shares
|
| Amount: | C$7,179,530
|
| Pricing date: | July 5
|
| Settlement date: | July 20
|
| Stock price: | C$1.26 at close July 20
|
|
|
| Canadian exploration flow-through shares
|
| Issue: | Flow-through shares
|
| Shares: | 2 million
|
| Price: | C$1.50
|
| Warrants: | No
|
|
|
| Canadian development flow-through shares
|
| Issue: | Flow-through shares
|
| Shares: | 1,131,500
|
| Price: | C$1.44
|
| Warrants: | No
|
|
|
| Common shares
|
| Issue: | Common shares
|
| Shares: | 2,143,000
|
| Price: | C$1.19
|
| Warrants: | No
|
|
|
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