By Sheri Kasprzak
New York, April 21 - Comet Ridge Ltd. said it has entered into agreements for a A$2,567,600 private placement.
The company plans to issue 9.17 million shares at A$0.28 each to sophisticated and institutional investors.
Tolhurst Noall is the placement agent.
Proceeds from the deal will be used for acquisitions and for working programs on the Grays Harbor project in Washington State. The rest will be used for expanding the company's project portfolio and for working capital.
Denver-based Comet Ridge is a coal seam gas exploration company.
| Issuer: | Comet Ridge Ltd.
|
| Issue: | Stock
|
| Amount: | A$2,567,600
|
| Shares: | 9.17 million
|
| Price: | A$0.28
|
| Warrants: | No
|
| Placement agent: | Tolhurst Noall
|
| Announcement date: | April 21
|
| Settlement date: | April 28
|
| Stock symbol: | Australia: COI
|
| Stock price: | A$0.315 at close April 21
|
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