By Devika Patel
Knoxville, Tenn., April 22 - NiMin Energy Corp. said it has arranged a $10 million private placement of stock. Thomas Weisel Partners Canada Inc., the agent, has a 15% greenshoe.
The company will sell 8 million common shares at $1.25 apiece.
Settlement is expected on May 6.
Proceeds will be used for part of the company's 2010 capital expenditure program, which includes the drilling of 11 additional development wells at its Ferguson Ranch Field, and for general corporate purposes.
The independent oil and gas exploitation and production company is based in Carpinteria, Calif.
| Issuer: | NiMin Energy Corp.
|
| Issue: | Common shares
|
| Amount: | $10 million
|
| Greenshoe: | 15%
|
| Shares: | 8 million
|
| Price: | $1.25
|
| Warrants: | No
|
| Agent: | Thomas Weisel Partners Canada Inc.
|
| Pricing date: | April 22
|
| Settlement date: | May 6
|
| Stock symbol: | Pink Sheets: NEYYF
|
| Stock price: | $1.41 at close April 21
|
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