By Devika Patel
Knoxville, Tenn., Oct. 21 - Redcliffe Exploration Inc. said it will now raise C$5million in a private placement of stock. The deal priced for C$6 million on Oct. 1.
The company still plans to sell 10 million flow-through class A shares on a commercially reasonable basis, but at C$0.50 per share, not C$0.60 per share.
The deal will be conducted by Richardson Partners Financial Ltd.
Settlement is expected Oct. 30.
Proceeds will be used to incur qualifying flow-through expenditures.
Redcliffe is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Redcliffe Exploration Inc.
|
| Issue: | Flow-through class A shares
|
| Amount: | C$5 million
|
| Shares: | 10 million
|
| Price: | C$0.50
|
| Warrants: | No
|
| Agent: | Richardson Partners Financial Ltd.
|
| Pricing date: | Oct. 1
|
| Amended: | Oct. 21
|
| Settlement date: | Oct. 30
|
| Stock symbol: | TSX Venture: RXP.A
|
| Stock price: | C$0.48 at close Oct. 1
|
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