Deal sold 4,629,686 flow-through shares to fund exploration in Quebec
By Devika Patel
Knoxville, Tenn., July 18 – Petrolia Inc. said on Friday that it completed a C$1.25 million private placement of stock.
The company sold 4,629,686 flow-through shares at C$0.27 apiece. The price per share is a 35% premium to C$0.20, the July 14 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
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| Amount: | C$1,250,015
|
| Shares: | 4,629,686
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| Price: | C$0.27
|
| Warrants: | No
|
| Settlement date: | July 15
|
| Stock symbol: | TSX Venture: PEA
|
| Stock price: | C$0.20 at close July 14
|
| Market capitalization: | C$23.11 million
|
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