By Laura Lutz
Des Moines, June 14 - Regal Energy Ltd. priced a C$1.001 million private placement of units.
The company plans to sell 3.85 million units of one share and one warrant at C$0.26 per unit. Each warrant will be exercisable at C$0.35 for two years.
Proceeds will be used for working capital.
The offering of units is in addition to the C$2.1 million placement of flow-through shares that Regal priced on June 4. That deal 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 for the flow-through offering with Nova Bancorp Securities Ltd. as 25% co-agent.
Settlement of both deals is expected on June 28.
Regal is an energy company based in Calgary, Alta.
| Issuer: | Regal Energy Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.001 million
|
| Units: | 3.85 million
|
| Price: | C$0.26
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.35
|
| Pricing date: | June 14
|
| Settlement date: | June 28
|
| Stock symbol: | TSX Venture: REG
|
| Stock price: | C$0.26 at close June 14
|
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