By Laura Lutz
Des Moines, May 24 - One Exploration Inc. arranged a private placement of subscription receipts for C$12,001,850.
The company plans to sell 3.637 million flow-through subscription receipts at C$1.65 each and 4.616 non flow-through subscription receipts at C$1.30 each.
The subscription receipts will become exchangeable upon completion of One's planned acquisition of assets in northern Alberta.
Each flow-through subscription receipt will be exchangeable for one flow-through share, and each non flow-through subscription receipt will be exchangeable for one class A non flow-through share.
Tristone Capital Inc. will lead a syndicate of underwriters for the offering.
Settlement is expected on June 19.
Proceeds will be used for the acquisition.
One is an oil and gas company based in Calgary, Alta.
| Issuer: | One Exploration Inc.
|
| Issue: | Subscription receipts exchangeable for flow-through shares; subscription receipts exchangeable for class A non flow-through shares
|
| Amount: | C$12,001,850
|
| Underwriter: | Tristone Capital Inc. (lead)
|
| Pricing date: | May 24
|
| Settlement date: | June 19
|
| Stock symbol: | TSX Venture: OE.A
|
| Stock price: | C$1.40 at close May 23
|
|
|
| Flow-through receipts
|
| Subscription receipts: | 3.637 million
|
| Price: | C$1.65
|
| Warrants: | No
|
|
|
| Non flow-through receipts
|
| Subscription receipts: | 4.616 million
|
| Price: | C$1.30
|
| Warrants: | No
|
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