By Laura Lutz
Des Moines, June 4 - Regal Energy Ltd. plans to conduct a private placement of flow-through shares for up to C$2.1 million.
The placement is expected to include up to 7 million flow-through shares at C$0.30 each.
Acumen Capital Finance Partners Ltd. will act as lead agent with Nova Bancorp Securities Ltd. as 25% co-agent.
Settlement is expected by June 21.
Proceeds will be used for exploration and development of the company's properties in Alberta and British Columbia.
Regal is an energy company based in Calgary, Alta.
| Issuer: | Regal Energy Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$2.1 million
|
| Shares: | 7 million
|
| Price: | C$0.30
|
| Warrants: | No
|
| Agents: | Acumen Capital Finance Partners Ltd. (lead), Nova Bancorp Securities Ltd.
|
| Pricing date: | June 4
|
| Stock symbol: | TSX Venture: REG
|
| Stock price: | C$0.275 at close June 4
|
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