By Devika Patel
Knoxville, Tenn., Sept. 16 - NuLoch Resources Inc. announced that it arranged a bought-deal private placement for C$25.09 million.
The company plans to sell 10.1 million flow-through shares at C$0.80 each for C$8.08 million. It also will sell 24,300 units of 118 common shares and 882 subscription receipts at C$700.00 per unit for C$17.01 million. There is a C$2.55 million greenshoe for the units.
Each subscription receipt will convert into one common share upon the closing of the company's previously announced acquisition of petroleum and natural gas properties in the Williston Basin region of the United States.
Genuity Capital Markets is the agent.
Settlement is expected on Oct. 6.
Proceeds will be used for exploration and general corporate purposes.
Located in Calgary, Alta., NuLoch is an oil and natural gas exploration company.
| Issuer: | NuLoch Resources Inc.
|
| Issue: | Flow-through shares, units of 118 common shares and 882 subscription receipts
|
| Amount: | C$25.09 million
|
| Agent: | Genuity Capital Markets
|
| Pricing date: | Sept. 16
|
| Settlement date: | Oct. 6
|
| Stock symbol: | TSX Venture: NLR.A
|
| Stock price: | C$0.89 at close Sept. 15
|
| Market capitalization: | C$22.8 million
|
|
|
| Shares
|
| Amount: | C$8.08 million
|
| Shares: | 10.1 million
|
| Price: | C$0.80
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$17.01 million
|
| Greenshoe: | C$2,551,500
|
| Units: | 24,300
|
| Price: | C$700.00
|
| Warrants: | No
|
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