By Laura Lutz
Pittsburgh, Jan. 24 - Rider Resources Ltd. arranged a private placement of flow-through shares for C$14.85 million.
The company plans to sell 1.35 million flow-through shares for C$11.00 each.
Directors, officers and employees of Rider will subscribe for 200,000 of the shares.
A syndicate led by FirstEnergy Capital Corp. and including GMP Securities LP, Tristone Capital Inc., Scotia Waterous Inc. and Orion Securities Inc. will act as underwriters.
Proceeds will be used for exploration.
Settlement is expected on Feb. 15, subject to regulatory approvals.
Rider is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Rider Resources Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$14.85 million
|
| Shares: | 1.35 million
|
| Price: | C$11.00
|
| Warrants: | No
|
| Underwriters: | FirstEnergy Capital Corp. (lead), GMP Securities LP, Tristone Capital Inc., Scotia Waterous Inc., Orion Securities Inc.
|
| Pricing date: | Jan. 24
|
| Settlement date: | Feb. 15
|
| Stock symbol: | Toronto: RRZ
|
| Stock price: | C$8.70 at close Jan. 23
|
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