By Sheri Kasprzak
New York, Sept. 23 - Rosetta Exploration Inc. said it has negotiated a private placement of flow-through shares for up to C$5,031,250.
The deal is comprised of 5.75 million flow-through shares at C$0.875 each.
Acumen Capital Finance Partners Ltd. is the placement agent.
The proceeds will be used for working capital.
In other news, Rosetta announced that Glenn Gradeen was promoted to chief executive officer. Present CEO Jim Malcolm will step down from his position but will continue to serve as chairman of the company's board of directors.
Based in Calgary, Alta., Rosetta is an oil and natural gas exploration company.
| Issuer: | Rosetta Exploration Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$5,031,250
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| Shares: | 5.75 million
|
| Price: | C$0.875
|
| Warrants: | No
|
| Placement agent: | Acumen Capital Finance Partners Ltd.
|
| Pricing date: | Sept. 22
|
| Stock price: | C$0.85 at close Sept. 22
|
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