By Devika Patel
Knoxville, Tenn., July 9 - Redcliffe Exploration Inc. said it raised C$314,250 in the second tranche of a C$4.7 million non-brokered private placement of stock. The company took in C$4.39 million in the first tranche on July 1.
The company sold a total of 18.8 million class A shares at C$0.25 per share, with 17,543,000 shares sold in the first tranche and 1,257,000 shares sold in this one.
Proceeds will be used to reduce debt.
Redcliffe is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Redcliffe Exploration Inc.
|
| Issue: | Class A shares
|
| Amount: | C$4.7 million
|
| Shares: | 18.8 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | July 1 (for C$4,385,750), July 9 (for C$314,250)
|
| Stock symbol: | TSX Venture: RXP.A
|
| Stock price: | C$0.22 at close June 30
|
| Market capitalization: | C$16.3 million
|
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