Company offers units of one common share, one warrant at two prices
By Devika Patel
Knoxville, Tenn., Dec. 10 - Ridgeline Energy Services Inc. said it plans a private placement of 2.8 million units. The deal will raise C$1.08 million.
The company will sell 1.5 million of the units at C$0.37 apiece and the remaining units at C$0.40 each. Each unit consists of one common share and one warrant.
Each warrant is exercisable at C$0.65 for two years. The strike price reflects a 30% premium to C$0.50, the Dec. 9 closing share price.
Proceeds will be used for the capital cost of manufacturing waste water treatment equipment.
Calgary, Alta.-based Ridgeline provides environmental services to the Western Canadian energy industry.
| Issuer: | Ridgeline Energy Services Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,075,000
|
| Units: | 2.8 million
|
| Price: | C$0.37 (for 1.5 million units), C$0.40 (for 1.3 million units)
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
| Pricing date: | Dec. 10
|
| Stock symbol: | TSX Venture: RLE
|
| Stock price: | C$0.50 at close Dec. 9
|
| Market capitalization: | C$20.7 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
