Proceeds used to repay Anthem loan, develop Provost Viking project
By Devika Patel
Knoxville, Tenn., March 7 - Nextraction Energy Corp. said it completed a C$1.59 million non-brokered private placement of units. The deal priced for C$1.6 million on Feb. 21.
The company sold 5,284,294 units of a common share and one warrant at C$0.30 per unit.
Each whole warrant is exercisable at C$0.35 until March 7, 2014. The strike price is identical to the Feb. 17 closing share price.
Proceeds will be used to repay the Anthem loan, for development of the Provost Viking light oil project and general corporate purposes.
Nextraction is a junior oil and gas company in Vancouver, B.C.
| Issuer: | Nextraction Energy Corp.
|
| Issue: | Units of a common share and one warrant
|
| Amount: | C$1,585,288
|
| Units: | 5,284,294
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | March 7, 2014
|
| Warrant strike price: | C$0.35
|
| Agents: | Non-brokered
|
| Pricing date: | Feb. 21
|
| Settlement date: | March 7
|
| Stock symbol: | TSX Venture: NE
|
| Stock price: | C$0.35 at close Feb. 17
|
| Market capitalization: | C$7.15 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
