By Sheri Kasprzak
New York, July 19 - Veteran Resources Inc. said it has closed a private placement for C$6.2 million - including a fully exercised over-allotment option.
The company sold a total of 4 million flow-through shares at C$1.55 each. Of those shares, 1 million were sold under a greenshoe exercised by placement agent Canaccord Capital Corp.
The offering was first announced June 30 as a C$4.65 million deal of 3 million flow-through shares under the same terms.
The proceeds from the offering will be used for an exploration program on the Peace River Arch focus area and for continued exploration on its current properties.
Based in Calgary, Alta., Veteran is an oil and natural gas exploration, development and production company.
Issuer: | Veteran Resources Inc.
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Issue: | Flow-through shares
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Amount: | C$6.2 million
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Shares: | 4 million (includes greenshoe for 1 million)
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Price: | C$1.55
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Warrants: | No
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Placement agent: | Canaccord Capital Corp.
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Pricing date: | June 30
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Settlement date: | July 19
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Stock price: | C$1.24 at close June 30
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Stock price: | C$1.17 at close July 18
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