By Laura Lutz
Des Moines, May 16 - Redcliffe Exploration Inc. increased the greenshoe in its C$5 million private placement of shares to C$2.5 million from C$1 million.
Without the greenshoe, the placement will include 5,555,556 class A flow-through shares at C$0.90 each.
The greenshoe now includes 2,777,778 shares, up from 1,111,111 shares when the deal priced on May 10.
Northern Securities Inc. will lead the syndicate of underwriters, which also includes GMP Securities LP, Raymond James Ltd., Dundee Securities Corp., Bolder Investment Partners, Ltd. and Emerging Equities Inc.
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: | 2,777,778 flow-through shares
|
| Price: | C$0.90
|
| Warrants: | No
|
| Underwriter: | Northern Securities Inc. (lead)
|
| Pricing date: | May 10
|
| Amended: | May 16
|
| Stock symbol: | TSX Venture: RXI.A
|
| Stock price: | C$0.75 at close May 9
|
| Stock price: | C$0.74 at close May 15
|
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