Nevarro Energy plans C$3.5 million private placement of stock

New York, May 15 - Nevarro Energy Ltd. said it has arranged a private placement for up to C$3.5 million via Acumen Capital Finance Partners Ltd.

The offering includes common shares at C$2.25 each and flow-through shares at C$2.45 each.

There will also be a greenshoe for a further C$1.5 million.

The breakdown of common shares versus flow-through shares has not yet been fixed.

Closing is scheduled for June 7.

Based in Calgary, Alta., Nevarro is an oil and natural gas exploration company.

Nevarro's stock closed at C$2.30 on Monday (TSX Venture: NEL).

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