By Devika Patel
Knoxville, Tenn., Oct. 26 - Nextraction Energy Corp. announced a C$6 million non-brokered private placement of units.
The company will sell 8 million units of one common share and one half-share warrant at C$0.75 per unit. The whole warrants are exercisable at C$0.95 each for one year.
Proceeds will be used for drilling.
Nextraction is a junior oil and gas company in Vancouver, B.C.
Issuer: | Nextraction Energy Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$6 million
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Units: | 8 million
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Price: | C$0.75
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$0.95
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Agent: | Non-brokered
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Pricing date: | Oct. 26
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Stock symbol: | TSX Venture: NE
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Stock price: | C$0.85 at close Oct. 23
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Market capitalization: | C$6.47 million
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