By Laura Lutz
Washington, March 9 - TriStar Oil & Gas Ltd. negotiated a private placement for C$50 million.
The company plans to sell about 8.6 million subscription receipts at C$4.70 each and about 1.7 million flow-through shares at C$6.00 each.
Each subscription receipt will be exchangeable for one non flow-through share upon completion of TriStar's planned acquisition of properties in Alberta and Saskatchewan.
The subscription receipts are expected to settle on March 29, and the flow-through shares are expected to settle on March 19.
TriStar, based in Calgary, Alta., is an oil and natural gas exploration company.
| Issuer: | TriStar Oil & Gas Ltd.
|
| Issuer: | Flow-through shares, subscription receipts exchangeable for non flow-through shares
|
| Amount: | C$50 million
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| Pricing date: | March 9
|
| Settlement date: | March 19 for flow-through shares; March 29 for subscription receipts
|
| Stock symbol: | Toronto: TOG
|
| Stock price: | C$4.75 at close March 9
|
|
|
| Flow-through shares
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| Shares: | 1.7 million
|
| Price: | C$6.00
|
| Warrants: | No
|
|
|
| Subscription receipts
|
| Receipts: | 8.6 million
|
| Price: | C$4.70
|
| Warrants: | No
|
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