By Sheri Kasprzak
Atlanta, April 20 - Ridgeway Petroleum Corp. said it has closed a downsized private placement for C$1,144,212.
The company sold 1,430,266 units at C$0.80 each.
The units include one share and one quarter-share warrant. The full warrants allow for an additional share at C$1.00 each for one year.
The offering was first announced March 2 as a C$1,189,626 deal comprised of 1,487,033 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 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$1,144,212
|
| Units: | 1,430,266
|
| Price: | C$0.80
|
| Warrants: | One quarter-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.00
|
| Pricing date: | March 2
|
| Settlement date: | April 20
|
| Stock price: | C$0.85 at close March 2
|
| Stock price: | C$1.05 at close April 20
|
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