By Sheri Kasprzak
New York, Sept. 14 - Trimox Energy Inc. said it has upsized to C$6,525,000 its previously announced C$4.95 million private placement.
The company now plans to sell 2.9 million class A shares at C$2.25 each. Once the deal closes, Trimox will have 12.9 million outstanding class A common shares and 450,000 outstanding class B common shares.
The offering was first announced Sept. 9 as a C$4.95 million deal comprised of 2.2 million class A shares under the same terms.
FirstEnergy Capital Corp. is the placement agent for the deal, which is scheduled to close Oct. 4.
The proceeds will be used to develop Trimox's Retlaw, Worsley and Niton properties.
Based in Calgary, Alta., Trimox is an oil and natural gas exploration company.
| Issuer: | Trimox Energy Inc.
|
| Issue: | Stock
|
| Amount: | C$6,525,000
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| Shares: | 2.9 million
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| Price: | C$2.25
|
| Warrants: | No
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| Placement agent: | FirstEnergy Capital Corp.
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| Pricing date: | Sept. 9
|
| Upsized: | Sept. 13
|
| Settlement date: | Oct. 4
|
| Stock price: | C$2.55 at close Sept. 9
|
| Stock price: | C$2.60 at close Sept. 13
|
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