By Sheri Kasprzak
New York, Nov. 27 - Tanganyika Oil Co. Ltd. has negotiated a private placement for up to C$95.46 million.
The non-brokered offering includes up to 6 million shares at C$15.91 each, a 6.4% discount to the company's C$17.00 closing stock price Nov. 24.
Proceeds will be used for the development of the company's oil and gas assets in Syria and for general corporate purposes.
Based in Calgary, Alta., Tanganyika is an oil and natural gas exploration and production company.
| Issuer: | Tanganyika Oil Co. Ltd.
|
| Issue: | Stock
|
| Amount: | C$95.46 million
|
| Shares: | 6 million
|
| Price: | C$15.91
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | Nov. 24
|
| Stock symbol: | TSX Venture: TYK
|
| Stock price: | C$17.00 at close Nov. 24
|
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