By Laura Lutz
Washington, Dec. 4 - Aspen Group Resources Corp. closed a previously announced private placement of units for C$1,489,880.
The company sold 9,311,750 units of one share and one warrant at C$0.16 per unit. Each warrant is exercisable at C$0.22 for 18 months.
The deal priced on Nov. 14 as a sale of up to 9.313 million units for up to C$1,490,080.
The placement was non-brokered.
Proceeds will be used to continue the company's oil and gas well program on its Manitoba properties and for working capital.
Before the placement, the company had 74,505,354 outstanding common shares.
Calgary, Alta.-based Aspen is an oil and natural gas production, acquisition, exploration and development company.
| Issuer: | Aspen Group Resources Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,489,880
|
| Units: | 9,311,750
|
| Price: | C$0.16
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.22
|
| Placement agent: | Non-brokered
|
| Pricing date: | Nov. 14
|
| Settlement date: | Dec. 4
|
| Stock symbol: | Toronto: ASR
|
| Stock price: | C$0.20 at close Nov. 14
|
| Stock price: | C$0.195 at close Dec. 1
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
