By Laura Lutz
Des Moines, Oct. 16 - Fairmount Energy Inc. announced a private placement for C$3,978,000.
The company plans to sell up to 2.04 million flow-through shares at C$1.95 each.
That amount was increased from a deal size of 1.54 million shares, announced earlier on Monday.
The underwriters, a syndicate led by GMP Securities LP and including Acumen Capital Finance Partners Ltd, received a greenshoe for 515,000 shares, for additional proceeds of C$1,004,250.
Proceeds of the offering will be used for ongoing exploration and development.
Settlement is expected on Oct. 26
Fairmount is an oil and gas company based in Calgary, Alta.
| Issuer: | Fairmount Energy Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$3,978,000
|
| Shares: | 2.04 million
|
| Greenshoe: | For 515,000 shares
|
| Price: | C$1.95
|
| Warrants: | No
|
| Agents: | GMP Securities LP (lead), Acumen Capital Finance Partners Ltd.
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 26
|
| Stock symbol: | TSX Venture: FMT
|
| Stock price: | C$1.60 at close Oct. 15
|
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