By Sheri Kasprzak
New York, Feb. 15 - Ivory Oils & Minerals Inc. said it has concluded a private placement for C$1,215,000.
The company sold 4.05 million units at C$0.30 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$0.40 each. Of the shares, 1.5 million were sold on a flow-through basis.
The offering was conducted as part of Ivory Oils' reverse takeover of 1078352 Alberta Ltd., a private oil exploration company. As a condition of the takeover, Ivory's stock will be consolidated on a two-for-one basis.
Proceeds from the placement will be used for working capital.
Based in Vancouver, B.C., Ivory is an oil and natural gas exploration company.
Issuer: | Ivory Oils & Minerals Inc.
|
Issue: | Units of one share and one half-share warrant
|
Amount: | C$1,215,000
|
Units: | 4.05 million
|
Price: | C$0.30
|
Warrants: | One half-share warrant per unit
|
Warrant strike price: | C$0.40
|
Settlement date: | Feb. 15
|
Stock symbol: | TSX Venture: IVY
|
Stock price: | C$0.32 at close Feb. 15
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.