Deal sells 3,825,000 flow-through shares to fund exploration in Quebec
By Devika Patel
Knoxville, Tenn., Nov. 4 – Petrolia Inc. said it completed a C$1.53 million private placement of stock.
The company sold 3,825,000 flow-through shares at C$0.40 apiece. The price per share is a 14.29% premium to C$0.35, the Nov. 3 closing share price.
Marquest Capital Markets and Secutor Capital Management Corp. were paid a 6% finder’s fee.
Proceeds will be used for exploration in Quebec.
Petrolia is a Quebec City-based junior oil and gas exploration company.
| Issuer: | Petrolia Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$1.53 million
|
| Shares: | 3,825,000
|
| Price: | C$0.40
|
| Warrants: | No
|
| Settlement date: | Nov. 4
|
| Stock symbol: | TSX Venture: PEA
|
| Stock price: | C$0.35 at close Nov. 3
|
| Market capitalization: | C$28.92 million
|
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