3P completes C$7.26 million placement of stock, subscription receipts

Sale at C$0.40 per receipt, share funds development drilling program

By Devika Patel

Knoxville, Tenn., Nov. 28 - 3P International Energy Corp. said it settled a C$7.26 million fully subscribed private placement of stock and subscription receipts on Nov. 25. The deal priced for C$7 million on Oct. 17.

The company sold 13,659,156 common shares at C$0.40 each and 4,490,844 subscription receipts at C$0.40 per receipt. The price per share is identical to the closing share price on Oct. 14.

Proceeds will be used for a three-well development drilling program, as well as for general corporate purposes.

Based in Toronto, 3P is an oil and gas exploration and development company.

Issuer:	3P International Energy Corp.
Issue:	Common stock, subscription receipts
Amount:	C$7.26 million
Price:	C$0.40
Warrants:	No
Pricing date:	Oct. 17
Settlement date:	Nov. 25
Stock symbol:	TSX Venture: DOH
Stock price:	C$0.40 at close Oct. 14
Market capitalization:	C$26.46 million
Shares
Amount:	C$5,463,662
Shares:	13,659,156
Receipts
Amount:	C$1,796,338
Receipts:	4,490,844

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