By Sheri Kasprzak
Atlanta, March 2 - Ridgeway Petroleum Corp. said it will raise C$1,189,626 in a private placement of units.
The company will sell 1,487,033 units at C$0.80 each. The units include one share and one quarter-share warrant.
The whole warrants allow for an additional share at C$1.00 each for one year.
The deal was first announced Feb. 22 as a C$1.5 million offering of up to 1,875,000 units and at least 937,500 units under the same terms.
Ridgeway, based in Calgary, Alta., is a natural gas exploration company. The proceeds will be used for general working capital and ongoing lease rental payments on the company's St. Johns Helium/CO2 project in Arizona and Mexico.
| Issuer: | Ridgeway Petroleum Corp.
|
| Issue: | Units of one share and one quarter-share warrant
|
| Amount: | C$1,189,626
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| Units: | 1,487,033
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| Price: | C$0.80
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| Warrants: | One quarter-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.00
|
| Pricing date: | March 2
|
| Stock price: | C$0.85 at close March 2
|
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