By Devika Patel
Knoxville, Tenn., Dec. 16 - Reliable Energy Ltd. said it will conduct a C$4.02 million private placement of shares.
The company will sell 9.35 million flow-through shares at C$0.43 per share via agent Canaccord Financial Ltd.
Settlement is expected Dec. 22.
Proceeds will be used to explore and advance Reliable's capital development program.
Reliable Energy is a Calgary, Alta.-based capital pool company.
| Issuer: | Reliable Energy Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$4,020,500
|
| Shares: | 9.35 million
|
| Price: | C$0.43
|
| Warrants: | No
|
| Agent: | Canaccord Financial Ltd.
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 22
|
| Stock symbol: | Toronto: REL
|
| Stock price: | C$0.38 at close Dec. 15
|
| Market capitalization: | C$63.9 million
|
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