By Sheri Kasprzak
New York, May 30 - Richards Oil & Gas Ltd. priced a C$10,000,250 private placement it intends to settle in two parts.
The offering includes a total of 5,882,500 shares at C$1.70 each.
In the first closing, the company will issue 1,176,500 shares and in the second, the company will issue 4,706,000 shares.
Proceeds will be used for land acquisition, exploration and development as well as for general corporate purposes.
Based in Calgary, Alta., Richards Oil & Gas is an oil and natural gas exploration company.
| Issuer: | Richards Oil & Gas Ltd.
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| Issue: | Stock
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| Amount: | C$10,000,250
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| Shares: | 5,882,500
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| Price: | C$1.70
|
| Warrants: | No
|
| Pricing date: | May 30
|
| Stock symbol: | TSX Venture: RIX
|
| Stock price: | C$1.80 at close May 29
|
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