New York, Dec. 31 - Arctos Petroleum Corp. said it finished a C$1.158 million private placement.
The company sold 141,112 flow-through units and 3,128,572 non flow-through units.
The flow-through units, priced at C$0.45 each, include one flow-through share and one half-share warrant. The whole warrants allow for an additional share at C$0.55 each for one year.
The non flow-through units, priced at C$0.35 each, are comprised of one share and one warrant. The warrants allow for an additional share at C$0.45 for 15 months.
Dominick and Dominick Securities Inc. is the placement agent in the offering, which was increased slightly from the C$1.15 million originally announced.
Based in Calgary, Alta., Arctos is an oil and natural gas exploration, development and production company. It plans to use the proceeds from the private placement for its oil and gas projects in Alberta and for working capital.
| Issuer: | Arctos Petroleum Corp.
|
| Issue: | Flow-through and non flow-through units
|
| Amount: | C$1.158 million
|
| Placement agent: | Dominick and Dominick Securities Inc.
|
| Announcement date: | Dec. 20
|
| Stock price: | C$0.33 at close Dec. 20
|
|
|
| Flow-through units
|
| Issue: | Flow-through units of one flow-through share and one half-share warrant
|
| Shares: | 141,112
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.55
|
|
|
| Non flow-through units
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| Issue: | Non flow-through units of one share and one warrant
|
| Shares: | 3,128,572
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 15 months
|
| Warrant strike price: | C$0.45
|
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