By Devika Patel
Knoxville, Tenn., March 12 - Americas Petrogas Inc. said it plans a C$7 million private placement of stock.
The company will sell 8,642,000 common shares at C$0.81 each.
Mackie Research Capital Corp. will be the lead underwriter. There is a C$3 million greenshoe.
Settlement is expected March 29.
Proceeds will be used for the ongoing exploration and development of the company's oil and gas properties, to advance its potash project and for general corporate purposes.
Americas Petrogas is a Calgary, Alta.-based, oil and gas exploration and development company.
| Issuer: | Americas Petrogas Inc.
|
| Issue: | Common stock
|
| Amount: | C$7 million
|
| Greenshoe: | C$3 million
|
| Shares: | 8,642,000
|
| Price: | C$0.81
|
| Warrants: | No
|
| Underwriter: | Mackie Research Capital Corp. (lead)
|
| Pricing date: | March 12
|
| Settlement date: | March 29
|
| Stock symbol: | TSX Venture: BOE
|
| Stock price: | C$0.89 at close March 11
|
| Market capitalization: | C$83.3 million
|
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