Deal funds company's participation in Hardy Bakken Field, exploration
By Devika Patel
Knoxville, Tenn., Jan. 6 - Passport Energy Ltd. said it plans a non-brokered private placement of units. The deal will raise C$5 million.
The company will sell 20 million units at C$0.25 apiece. Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.35 for 18 months.
Proceeds will be used for the company's participation in the Hardy Bakken Field in southeastern Saskatchewan and for exploration on its Alberta Basin properties in Montana.
Passport Energy is a Calgary, Alta.-based junior natural resource exploration company.
| Issuer: | Passport Energy Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5 million
|
| Units: | 20 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 6
|
| Stock symbol: | CNSX: PPO
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
