By Devika Patel
Knoxville, Tenn., March 2 - PetroGlobe Inc. said it will conduct a private placement of stock for C$1.82 million. Burgeonvest-Bick Securities Ltd. will market the stock on a best-efforts basis.
The company will sell 2 million common shares at C$0.28 each and 3.5 million flow-through common shares at C$0.36 apiece.
Settlement is expected March 10.
Proceeds will be used for exploration.
PetroGlobe is an oil and natural gas exploration company based in Calgary, Alta.
| Issuer: | PetroGlobe Inc.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$1.82 million
|
| Warrants: | No
|
| Agent: | Burgeonvest-Bick Securities Ltd.
|
| Pricing date: | March 2
|
| Settlement date: | March 10
|
| Stock symbol: | TSX Venture: PGB
|
| Stock price: | C$0.30 at close March 1
|
| Market capitalization: | C$15.3 million
|
|
|
| Common shares
|
| Amount: | C$560,000
|
| Shares: | 2 million
|
| Price: | C$0.28
|
|
|
| Flow-through shares
|
| Amount: | C$1.26 million
|
| Shares: | 3.5 million
|
| Price: | C$0.36
|
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