By Sheri Kasprzak
Atlanta, April 28 - Rally Energy Corp. said it plans to raise C$2,016,000 in a private placement.
The offering includes up to 1.12 million flow-through common shares at C$1.80 each.
Insiders of the company may subscribe for up to C$500,000 of the offering.
Jennings Capital Inc. is the placement agent on the deal, which is expected to close in tranches over the next few weeks.
Based in Calgary, Alta., Rally is an oil and natural gas exploration and development company. The proceeds will be used for oil and gas exploration.
| Issuer: | Rally Energy Corp.
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| Issue: | Flow-through common shares
|
| Amount: | C$2,016,000
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| Shares: | 1.12 million
|
| Price: | C$1.80
|
| Warrants: | No
|
| Placement agent: | Jennings Capital Inc.
|
| Pricing date: | April 27
|
| Stock price: | C$1.50 at close April 27
|
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