By Laura Lutz
Des Moines, May 10 - Redcliffe Exploration Inc. arranged a private placement of shares for C$5 million.
The company plans to sell 5,555,556 class A flow-through shares at C$0.90 each.
Northern Securities Inc. will lead the syndicate of underwriters.
The underwriters have a greenshoe for 1,111,111 additional shares.
Settlement is expected by June 7.
Redcliffe is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Redcliffe Exploration Inc.
|
| Issue: | Class A flow-through shares
|
| Amount: | C$5 million
|
| Shares: | 5,555,556
|
| Greenshoe: | 1,111,111 flow-through shares
|
| Price: | C$0.90
|
| Warrants: | No
|
| Underwriter: | Northern Securities Inc. (lead)
|
| Pricing date: | May 10
|
| Stock symbol: | TSX Venture: RXI.A
|
| Stock price: | C$0.75 at close May 9
|
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