By Laura Lutz
Des Moines, Oct. 6 - Rival Energy Ltd. arranged a private placement of shares on a bought deal basis with Acumen Capital Finance Partners Ltd. for $3 million.
Rival will issue 1.875 million flow-through common shares at C$1.60 per share.
Acumen has an over-allotment option for C$1 million.
Proceeds will be used for capital investments at the company's 10-well oil drilling program at Bellshill/Killam, its Nisku target at Fenn West and its Gilwood test at Gift Lake.
Rival is an energy company with operations in southwest Saskatchewan and east-central Alberta and headquarters in Calgary, Alta.
| Issuer: | Rival Energy Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3 million
|
| Greenshoe: | C$1 million
|
| Shares: | 1.875 million
|
| Price: | C$1.60
|
| Warrants: | No
|
| Pricing date: | Oct. 6
|
| Stock symbol: | TSX Venture: RGY
|
| Stock price: | C$1.29
|
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