By Devika Patel
Knoxville, Tenn., June 5 - Rift Oil plc said it finalized plans for a £5.17 million private placement of shares.
The company will sell 98,393,348 ordinary shares at 5.25p apiece.
RBC Capital Markets is the broker.
Proceeds will be used to finance acquisitions and for drilling and testing.
Rift Oil is a London-based oil and gas company engaged in exploration in Papua Guinea.
| Issuer: | Rift Oil plc
|
| Issue: | Ordinary shares
|
| Amount: | £5,165,650.77
|
| Shares: | 98,393,348
|
| Price: | 5.25p
|
| Warrants: | No
|
| Broker: | RBC Capital Markets
|
| Pricing date: | June 5
|
| Stock symbol: | London: RIFT
|
| Stock price: | 6p at close June 4
|
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