Offering sells 2.27 million flow-through common shares at C$0.44 each
By Devika Patel
Knoxville, Tenn., Dec. 5 – Tuscany Energy Ltd. said it plans a C$1 million private placement of stock.
The company will sell 2.27 million flow-through shares at C$0.44 apiece. The price per share represents a 25.71% premium to C$0.35, the Dec. 4 closing share price.
Settlement is expected Dec. 10.
Proceeds will be used for oil exploration.
Tuscany is an oil and gas company based in Calgary, Alta.
| Issuer: | Tuscany Energy Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$998,800
|
| Shares: | 2.27 million
|
| Price: | C$0.44
|
| Warrants: | No
|
| Pricing date: | Dec. 5
|
| Settlement dates: | Dec. 10
|
| Stock symbol: | TSX Venture: TUS
|
| Stock price: | C$0.35 at close Dec. 4
|
| Market capitalization: | C$12.76 million
|
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