By Devika Patel
Knoxville, Tenn., March 11 - Triangle Petroleum Corp. announced a $9.2 million private placement of stock.
The company will sell common shares at $0.33 apiece.
Settlement is expected March 12.
Proceeds will be used to finance development obligations, acquire and develop additional acreage in the Bakken Shale play and for general corporate purposes.
Calgary, Alta.-based Triangle Petroleum is an oil and gas exploration company.
Issuer: | Triangle Petroleum Corp.
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Issue: | Common stock
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Amount: | $9.2 million
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Price: | $0.33
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Warrants: | No
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Pricing date: | March 11
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Settlement date: | March 12
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Stock symbol: | OTCBB: TPLM
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Stock price: | $0.42 at close March 11
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Market capitalization: | $29.4 million
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