By Laura Lutz
Washington, Nov. 27 - Trafalgar Energy Ltd. negotiated a private placement for up to C$6 million.
The company plans to sell 497,600 non flow-through shares at C$4.02 each and 792,100 flow-through shares at C$5.05 each.
The underwriters, a syndicate co-led by Sprott Securities Inc. and Canaccord Adams, also received an over-allotment option for up to 49,760 non flow-through shares, for additional proceeds of C$200,000.
Proceeds will be used for exploration, development and working capital.
Settlement is expected on Dec. 14.
Trafalgar is an oil and gas company based in Calgary, Alta.
| Issuer: | Trafalgar Energy Ltd.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$6 million
|
| Underwriters: | Sprott Securities (lead), Canaccord Adams (lead)
|
| Pricing date: | Nov. 27
|
| Settlement date: | Dec. 14
|
| Stock symbol: | Toronto: TFL
|
| Stock price: | C$4.11
|
|
|
| Flow-through shares
|
| Shares: | 792,100
|
| Price: | C$5.05
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 497,600
|
| Greenshoe: | For 49,760
|
| Price: | C$4.02
|
| Warrants: | No
|
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