Non-brokered offering sells 61,728,395 shares at C$0.081 to Pelagic
By Devika Patel
Knoxville, Tenn., July 3 - Adira Energy Ltd. said it will conduct a C$5 million non-brokered private placement of stock with Pelagic Investments Ltd.
The company will sell 61,728,395 common shares at C$0.081 apiece, a 710% premium to the July 2 closing share price of C$0.01.
Adira Energy is an oil and gas explorer based in Toronto.
| Issuer: | Adira Energy Ltd.
|
| Issue: | Common shares
|
| Amount: | C$5 million
|
| Shares: | 61,728,395
|
| Price: | C$0.081
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Pelagic Investments Ltd.
|
| Pricing date: | July 3
|
| Stock symbol: | TSX Venture: ADL
|
| Stock price: | C$0.01 at close July 2
|
| Market capitalization: | C$1.02 million
|
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