Non-brokered deal’s proceeds will finance general corporate purposes
By Devika Patel
Knoxville, Tenn., April 29 – Raise Production Inc. said it raised C$3 million in a non-brokered private placement of stock.
The company sold 2.5 million common shares at C$1.20 per share. The price per share reflects a 1.64% discount to the April 28 closing share price of C$1.22.
Proceeds will be used for general corporate purposes.
Richardson GMP Ltd. was paid a 6% finder's fee equal to C$180,000.
The oilfield service company is based in Calgary, Alta.
| Issuer: | Raise Production Inc.
|
| Issue: | Common stock
|
| Amount: | C$3 million
|
| Units: | 2.5 million
|
| Price: | C$1.20
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | April 29
|
| Stock symbol: | TSX Venture: RPC
|
| Stock price: | C$1.22 at close April 28
|
| Market capitalization: | C$107.08 million
|
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