By Sheri Kasprzak
Atlanta, Nov. 18 - Wrangler West Energy Corp. said late Wednesday it sold C$2,187,500 in a private placement.
The company sold, on a non-brokered basis, units of two flow-through shares and one common share. In total, the company sold 250,000 flow-through shares at C$6 per share and 125,000 common shares at C$5.50 per share.
Wrangler expects that about half of the proceeds from the offering will be from subscriptions by directors and senior officers of the company.
The deal is expected to close Dec. 17.
Wrangler is a Calgary, Alta.-based oil and gas producer. The company plans to use the proceeds from the financing to fund its 2005 exploration and development program.
| Issuer: | Wrangler West Energy Corp.
|
| Issue: | Units of two flow-through shares and one common share
|
| Amount: | C$2,187,500
|
| Pricing date: | Nov. 17
|
| Settlement date: | Dec. 17
|
| Stock price: | C$6.20 at close Nov. 17
|
|
|
| Flow-through shares
|
| Issue: | Flow-through common shares
|
| Shares: | 250,000
|
| Price: | C$6
|
| Warrants: | No
|
|
|
| Common shares
|
| Issue: | Common shares
|
| Shares: | 125,000
|
| Price: | C$5.50
|
| Warrants: | No
|
|
|
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