By Laura Lutz
Des Moines, March 3 - Next Millennium Commercial Corp. plans to conduct a private placement of units for C$12 million.
The company intends to sell 24 million units of one share and one warrant at C$0.50 per unit. Each warrant will be exercisable at C$1.00 for one year.
Of the offering, C$6 million will be brokered.
Next Millennium is an oil and gas exploration and development company based in Toronto.
The company said it will use the proceeds for its acquisition of Roadrunner Oil & Gas Inc., for acquisitions of additional exploration leases and for exploration on Roadrunner's leased lands.
| Issuer: | Next Millennium Commercial Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$12 million
|
| Units: | 24 million
|
| Price: | C$0.50
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered (for C$6 million)
|
| Pricing date: | March 3
|
| Stock symbol: | TSX Venture: NM
|
| Stock price: | C$0.62 at close March 3
|
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