By Devika Patel
Knoxville, Tenn., May 1 - Reece Energy Exploration Corp. said it took in C$7.5 million from a private placement of shares, which priced April 4.
The company sold 4,838,710 common shares at C$1.55 apiece.
Wolverton Securities Ltd. was the agent.
Proceeds will be used to expedite Reece's previously announced Bakken and Viking oil drilling programs.
Located in Medicine Hat, Alta., Reece is an oil and natural gas exploration company.
| Issuer: | Reece Energy Exploration Corp.
|
| Issue: | Common shares
|
| Amount: | C$7.5 million
|
| Shares: | 4,838,710
|
| Price: | C$1.55
|
| Warrants: | No
|
| Agent: | Wolverton Securities Ltd.
|
| Pricing date: | April 4
|
| Settlement date: | May 1
|
| Stock symbol: | TSX Venture: RXR
|
| Stock price: | C$1.49 at close April 4
|
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