New Issue: PetroGlobe wraps private placement of stock for C$6.01 million

By Sheri Kasprzak

Atlanta, April 21 - PetroGlobe Inc. said it has closed a previously announced private placement for C$6,011,563.

The company sold 4,993,502 common shares at C$0.60 each and 4,307,804 flow-through common shares at C$0.70 each.

The offering was first announced March 17 as a C$6 million offering, but the details of the deal were not released in the initial announcement.

Based in Calgary, Alta., PetroGlobe is an oil and natural gas exploration and development company. It plans to use the proceeds from the flow-through shares to drill shallow gas wells in Alberta. The proceeds from the common shares will be used to appraise wells in Texas and acquire acreage in Texas. The remainder of the proceeds from the common shares will be used for general corporate purposes.

Issuer:	PetroGlobe Inc.
Issue:	Flow-through and common shares
Amount:	C$6,011,563
Pricing date:	March 17
Settlement date:	April 21
Stock price:	C$0.70 at close March 17
Stock price:	C$0.80 at close April 20
Flow-through shares
Issue:	Flow-through common shares
Shares:	4,307,804
Price:	C$0.70
Warrants:	No
Common shares
Issue:	Common shares
Shares:	4,993,502
Price:	C$0.60
Warrants:	No

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