Non-brokered deal's proceeds slated for exploration of Qara Dagh Block
By Devika Patel
Knoxville, Tenn., Oct. 19 - Vast Exploration Inc. said it has arranged a C$5 million non-brokered private placement of stock.
The company will sell 100 million common shares at C$0.05 apiece, a 9.09% discount to the Oct. 18 closing share price of C$0.055.
Proceeds will be used for exploration of the Qara Dagh Block in the Kurdistan Region of Iraq and general working capital for the next phase of exploration.
Vast Exploration is an oil and gas exploration and production company based in Calgary, Alta.
| Issuer: | Vast Exploration Inc.
|
| Issue: | Common shares
|
| Amount: | C$5 million
|
| Shares: | 100 million
|
| Price: | C$0.05
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 19
|
| Stock symbol: | TSX Venture: VST
|
| Stock price: | C$0.05 at close Oct. 19
|
| Market capitalization: | C$10.06 million
|
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