By Sheri Kasprzak
Atlanta, Nov. 17 - Mystique Energy Inc. said Wednesday it sold C$3 million in a private placement.
The company will issue up to 2.5 million units of one share and one half-share warrant and 4 million flow-through shares.
The units are priced at C$0.40 and the flow-through shares at C$0.50.
The warrants in the deal allow for the purchase of one share at C$0.60 for two years.
Woodstone Capital Inc., the placement agent in the deal, may increase the offering by 10%.
Calgary, Alta.-based Mystique is a petroleum exploitation and production company. The company plans to use the proceeds from the offering to fund its 2004-2010 drilling program.
| Issuer: | Mystique Energy Inc.
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| Issue: | Flow-through shares and units of one common share and one half-share warrant
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| Amount: | C$3 million
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| Placement agent: | Woodstone Capital Inc.
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| Announcement date: | Nov. 17
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| Stock price: | C$0.40 at close Nov. 16
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| Flow-through shares
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| Issue: | Flow-through shares
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| Shares: | 4 million
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| Price: | C$0.50
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| Units
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| Issue: | Units of one common share and one half-share warrant
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| Units: | 2.5 million
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.60
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