By Devika Patel
Knoxville, Tenn., June 30 - Ranger Energy Ltd. said it has completed a C$2.5 million non-brokered private placement of units.
The company sold 12.5 million units at C$0.20 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.30 for one year.
Proceeds will be used to fund part of the company's planned acquisition, evaluation and development of the Viking and Cardium oil projects in Alberta and for general working capital purposes.
Ranger Energy is an energy company based in Calgary, Alta.
| Issuer: | Ranger Energy Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 12.5 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: RGG.H
|
| Stock price: | C$0.215 at close June 30
|
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