By Devika Patel
Knoxville, Tenn., Dec. 8 - Morgan Creek Energy Corp. said it will raise $2 million in a private placement of units.
The company will sell 4 million units of one common share and a half-share warrant at $0.50 apiece. Each whole warrant is exercisable at $1.00 for one year.
The natural resource exploration and production company is based in Dallas.
| Issuer: | Morgan Creek Energy Corp.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $2 million
|
| Units: | 4 million
|
| Price: | $0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | $1.00
|
| Pricing date: | Dec. 8
|
| Stock symbol: | OTCBB: MCKE
|
| Stock price: | $0.69 at close Dec. 7
|
| Market capitalization: | $18.7 million
|
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