By Devika Patel
Knoxville, Tenn., March 17 - Nextraction Energy Corp. said it has arranged a C$3 million non-brokered private placement of units.
The company will sell 3 million units of one common share and one half-share warrant at C$1.00 each. The whole warrants are exercisable at C$1.25 each for one year.
Settlement is expected March 29.
Proceeds will be used to finance the completion of the company's Noble 6-24 well in the Pinedale Anticline field.
Nextraction is a junior oil and gas company in Vancouver, B.C.
| Issuer: | Nextraction Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 3 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.25
|
| Agent: | Non-brokered
|
| Pricing date: | March 17
|
| Settlement date: | March 29
|
| Stock symbol: | TSX Venture: NE
|
| Stock price: | C$1.16 at close March 17
|
| Market capitalization: | C$8.82 million
|
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