Non-brokered offering funds acquisitions, general corporate purposes
By Devika Patel
Knoxville, Tenn., Sept. 15 – Kallisto Energy Corp. said it will raise up to C$25 million in a non-brokered private placement of units and stock.
The company will sell up to 296,296,296 units of one common share and one warrant at C$0.03375 per unit. Each warrant will be exercisable at C$0.045 for five years.
Kallisto will also sell up to 444,444,444 common shares at C$0.03375 apiece.
The price per share is a 57.81% discount to the Sept. 12 closing share price of C$0.08. The warrant strike price is a 43.75% discount to that price.
Investors include Barry Olson, Donald Sabo, Greg Phaneuf, Elizabeth More, Neil Wilson, Kellie D'Hondt and Paul Storey.
Proceeds will be used to pursue acquisitions and for general corporate purposes.
Based in Calgary, Alta., Kallisto is an oil and natural gas exploration, development and production company.
| Issuer: | Kallisto Energy Corp.
|
| Issue: | Units of one common share and one warrant, common shares
|
| Amount: | C$25 million
|
| Price: | C$0.03375
|
| Agent: | Non-brokered
|
| Investors: | Barry Olson, Donald Sabo, Greg Phaneuf, Elizabeth More, Neil Wilson, Kellie D'Hondt and Paul Storey
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 15
|
| Stock symbol: | TSX Venture: SNG
|
| Stock price: | C$0.08 at close Sept. 12
|
| Market capitalization: | C$8.89 million
|
|
|
| Units
|
| Amount: | C$10 million
|
| Units: | 296,296,296
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$0.045
|
|
|
| Stock
|
| Amount: | C$15 million
|
| Shares: | 444,444,444
|
| Warrants: | No
|
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