By Devika Patel
Knoxville, Tenn., Oct. 2 - Eagle Rock Exploration Ltd. said it raised C$4.1 million, up from its planned C$3.8 million, from a non-brokered placement of flow-through shares.
The company sold 8,200,000 flow-through common shares, up from a planned 7,600,000 shares, at C$0.50 apiece.
The shares will have a four-month hold period.
Proceeds will be used for Eagle Rock's proposed five-well drilling program in the Red Coulee/Coutts area of southern Alberta.
Calgary, Alta.-based Eagle Rock is an oil and natural gas exploration company.
| Issuer: | Eagle Rock Exploration Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4.1 million
|
| Shares: | 8,200,000
|
| Price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Sept.14
|
| Settlement date: | Oct. 2
|
| Stock symbol: | TSX Venture: ERX
|
| Stock price: | C$0.36 at close Sept. 13
|
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