By Devika Patel
Knoxville, Tenn., June 5 - Next Millennium Commercial Corp. said it completed a non-brokered private placement of units, raising C$6 million. The deal priced March 3 as part of a C$12 million deal. The remaining portion will be brokered.
The company sold 12 million units at C$0.50 apiece. It plans to sell 24 million units total. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$1.00 for one year.
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 common share and one warrant
|
| Amount: | C$12 million
|
| Units: | 24 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered (for C$6 million)
|
| Pricing date: | March 3
|
| Settlement date: | June 5 (for C$6 million)
|
| Stock symbol: | TSX Venture: NM
|
| Stock price: | C$0.62 at close March 3
|
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