By Sheri Kasprzak
Atlanta, Jan. 31 - International Sovereign Energy Corp. said it will head to the private placement market with an offering of up to C$6,207,000.
The company plans to sell 2,069,000 shares at C$3 each.
McFarlane Gordon Inc. is the placement agent in the offering, which is expected to close Feb. 28.
Based in Calgary, Alta., International Sovereign is an oil and gas exploration, development and production company. It plans to use the proceeds for international exploration and development expenses and for general corporate purposes.
| Issuer: | International Sovereign Energy Corp.
|
| Issue: | Stock
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| Amount: | $6,207,000
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| Shares: | 2,069,000
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| Price: | C$3.00
|
| Warrants: | No
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| Placement agent: | McFarlane Gordon Inc.
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 28
|
| Stock price: | C$2.40 at close Jan. 4 (last trade)
|
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