New York, Feb. 14 - WesternZagros Resources Ltd. said it has priced a C$75 million private placement of stock.
The Calgary, Alta.-based company will sell up to 33.3 million common shares at C$2.25 each.
UBS Securities Canada Inc. will be bookrunner for the best efforts offering.
Proceeds will be used for exploration in the Kurdistan region of Iraq.
WesternZagros is an oil and gas exploration and production company. All its assets are in the Kurdistan region of Iraq.
| Issuer: | WesternZagros Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$75 million
|
| Shares: | 33.3 million
|
| Price: | C$2.25
|
| Warrants: | No
|
| Bookrunner: | UBS Securities Canada Inc.
|
| Announcement date: | Feb. 14
|
| Settlement: | March 4
|
| Stock symbol: | TSX Venture: WZR
|
| Stock price: | C$2.47 at close Feb. 14
|
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