By Devika Patel
Knoxville, Tenn., Aug. 4 - Mooncor Oil & Gas Corp. said it has arranged a C$1.13 million non-brokered private placement of units. It raised C$386,010 in the first tranche.
The company will sell flow-through units of one common share and one half-share warrant at C$0.18 per unit. It also will sell units of one common share and one warrant at C$0.15 per unit.
Each whole warrant will be exercisable at C$0.25 for two years. The strike price represents a 61.29% premium to the Aug. 3 closing share price of C$0.155.
Mooncor sold 435,000 units and 1,782,000 flow-through units in the first tranche.
Proceeds will be used for exploration and working capital.
Mooncor is a junior oil and gas exploration and production company based in Calgary, Alta.
| Issuer: | Mooncor Oil & Gas Corp.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one warrant
|
| Amount: | C$1,125,000
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Announcement date: | Aug. 4
|
| Settlement date: | Aug. 4 (for C$386,010)
|
| Stock symbol: | TSX Venture: MOO
|
| Stock price: | C$0.155 at close Aug. 3
|
| Market capitalization: | C$15.19 million
|
|
|
| Flow-through units
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
|
|
| Units
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
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