By Devika Patel
Knoxville, Tenn., Oct. 2 - NuLoch Resources Inc. announced that it arranged a private placement for up to C$4 million, then expanded the offering a few hours later by C$400,000.
The company plans to sell up to 3,625,000 flow-through class A shares, up from its original figure of 3,125,000 shares, at C$0.65 each and up to 2,307,700 class A common shares at C$0.65 each..
GMP Securities LP is the agent for the deal.
Settlement is expected on Oct. 23.
Following closing of the placement, NuLoch expects to have approximately 20,629,695 class A common shares and 652,500 class B common shares outstanding.
Proceeds will be used to finance NuLoch's capital program and for general corporate purposes.
Located in Calgary, Alta., NuLoch is an oil and natural gas exploration company.
| Issuer: | NuLoch Resources Inc.
|
| Issue: | Class A flow-through shares, class A shares
|
| Amount: | C$4.4 million (maximum)
|
| Warrants: | No
|
| Agent: | GMP Securities LP
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| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 23
|
| Stock symbol: | TSX Venture: NLR.A
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| Stock price: | C$0.70 at close Oct. 1
|
|
|
| Flow-through shares
|
| Shares: | 3,625,000 (maximum)
|
| Price: | C$0.80
|
|
|
| Shares
|
| Shares: | 2,307,700 (maximum)
|
| Price: | C$0.65
|
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