By Devika Patel
Knoxville, Tenn., Oct. 27 - AltaCanada Energy Corp. said it plans a private placement of stock for up to C$5 million.
The company will sell 62.5 million common shares at C$0.08 each.
Proceeds will be used to repay debt, for drilling and for working capital.
Calgary, Alta.-based AltaCanada Energy is an oil and gas company.
| Issuer: | AltaCanada Energy Corp.
|
| Issue: | Common shares
|
| Amount: | C$5 million
|
| Shares: | 62.5 million
|
| Price: | C$0.08
|
| Warrants: | No
|
| Pricing date: | Oct. 27
|
| Stock symbol: | TSX Venture: ANG
|
| Stock price: | C$0.12 at close Oct. 27
|
| Market capitalization: | C$8.93 million
|
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