DJ Carmichael, Casimir, Shore Capital, Old Park Lane Capital assist
By Devika Patel
Knoxville, Tenn., Jan. 30 - Tangiers Petroleum Ltd. said it completed a book-build to raise about A$6.35 million in a private placement of stock. DJ Carmichael, Casimir Capital, Shore Capital and Old Park Lane Capital were the brokers.
The company sold about 12.7 million shares at A$0.50 per share, a 21.88% discount to the closing share price on Jan. 27 of A$0.64.
Settlement is expected Feb. 3.
Proceeds will be used for exploration and general working capital.
Tangiers is a Sydney, Australia, oil and gas exploration company.
| Issuer: | Tangiers Petroleum Ltd.
|
| Issue: | Shares
|
| Amount: | A$6.35 million (approximate)
|
| Shares: | 12.7 million (approximate)
|
| Price: | A$0.50
|
| Warrants: | No
|
| Brokers: | DJ Carmichael, Casimir Capital, Shore Capital and Old Park Lane Capital
|
| Announcement date: | Jan. 30
|
| Settlement date: | Feb. 3
|
| Stock symbol: | Australia: TPT
|
| Stock price: | A$0.64 at close Jan. 27
|
| Market capitalization: | A$52.5 million
|
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