By Sheri Kasprzak
New York, Aug. 24 - Kelso Energy Inc. said it plans to raise up to C$2.5 million from a private placement.
The offering includes up to 8,333,333 common shares at C$0.15 each and up to 6,944,444 flow-through shares at C$0.18 each.
A syndicate of placement agents led by Acumen Capital Finance Partners Ltd. has an over-allotment option for up to C$500,000.
The proceeds will be used for exploration, capital expenses and working capital.
Based in Calgary, Alta., Kelso is an oil and natural gas exploration company.
Issuer: | Kelso Energy Inc.
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Issue: | Common and flow-through shares
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Amount: | C$2.5 million (maximum)
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Greenshoe: | For up to C$500,000
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Placement agents: | Acumen Capital Finance Partners Ltd.
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Pricing date: | Aug. 24
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Stock price: | C$0.15 at close Aug. 24
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Flow-through shares
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Issue: | Flow-through common shares
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Shares: | 6,944,444
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Price: | C$0.18
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Warrants: | No
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Non flow-through shares
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Issue: | Common shares
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Shares: | 8,333,333
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Price: | C$0.15
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Warrants: | No
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