By Laura Lutz
Des Moines, April 10 - Platform Resources Ltd. arranged a private placement of shares for up to C$3 million.
The company plans to sell up to 6 million shares at C$0.50 each.
Insiders of the company are expected to subscribe for about 1.2 million shares.
Settlement of the non-brokered placement is expected on May 1.
Proceeds will be used for exploration and development of the company's oil and gas properties.
| Issuer: | Platform Resources Ltd.
|
| Issue: | Shares
|
| Amount: | C$3 million
|
| Shares: | 6 million
|
| Price: | C$0.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | April 10
|
| Settlement date: | May 1
|
| Stock symbol: | TSX Venture: PFM
|
| Stock price: | C$0.54 at close April 10
|
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