By Sheri Kasprzak
New York, Feb. 2 - Result Energy Inc. said it has wrapped a private placement for C$6.64 million.
The company issued 5,312,000 shares at C$1.25 each through a syndicate of agents led by Acumen Capital Finance Partners Ltd. The shares issued include a greenshoe for 2 million shares exercised by the syndicate, which also included Westwind Partners Inc.
The offering was first announced as a C$5 million offering on Jan. 18 and was later upsized to C$6.6 million.
Proceeds will be used for exploration and development on the company's three core areas in the Peace River Arch region of Alberta, the Pembina area of Alberta and southwestern Saskatchewan. The rest will be used for general corporate purposes.
Based in Calgary, Alta., Result is an oil and natural gas exploration company.
| Issuer: | Result Energy Inc.
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| Issue: | Stock
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| Amount: | C$6.64 million
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| Shares: | 5,312,000 (includes greenshoe for 2 million shares)
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| Price: | C$1.25
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| Warrants: | No
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| Placement agents: | Acumen Capital Finance Partners Ltd. (lead); Westwind Partners Inc.
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| Pricing date: | Jan. 17
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| Settlement date: | Feb. 2
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| Stock symbol: | TSX Venture: RTE
|
| Stock price: | C$1.36 at close Jan. 17
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| Stock price: | C$1.35 at close Feb. 2
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