By Sheri Kasprzak
New York, Oct. 13 - Athlone Energy Ltd. said it has upsized to C$1,243,000 its previously announced C$1.21 million private placement.
The company will now sell up to 2.26 million units at C$0.55 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for the purchase of another share at C$0.70 each for one year.
The non-brokered offering was first announced Oct. 3 as being composed of 2.2 million units under the same terms.
The proceeds will be used for drilling, land acquisition and general working capital.
Based in Vancouver, B.C., Athlone is an oil and natural gas exploration company.
| Issuer: | Athlone Energy Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,243,000
|
| Units: | 2.26 million
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.70
|
| Placement agent: | Non-brokered
|
| Pricing date: | Oct. 3
|
| Upsized: | Oct. 12
|
| Stock price: | C$0.71 at close Oct. 3
|
| Stock price: | C$0.62 at close Oct. 12
|
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