By Sheri Kasprzak
New York, Sept. 23 - Kelso Energy Inc. said it has completed its previously announced private placement for C$2,378,575.
The company sold 9,722,222 flow-through shares at C$0.18 each and 4,190,500 non flow-through shares at C$0.15 each.
After closing, Kelso had 48,715,000 outstanding common shares.
The deal was first announced Aug. 24 as a C$2.5 million offering of up to 6,944,444 flow-through shares ad up to 8,333,333 non flow-through shares under the same terms.
Acumen Capital Finance Partners Ltd. was the placement agent.
The proceeds will be used for exploration, capital expenses and working capital.
In other news, Kelso's board of directors approved the granting of 1,205,000 stock options to directors, managers and consultants at C$0.15 each.
Based in Calgary, Alta., Kelso is an oil and natural gas exploration company.
| Issuer: | Kelso Energy Inc.
|
| Issue: | Common and flow-through shares
|
| Amount: | C$2,378,575
|
| Placement agent: | Acumen Capital Finance Partners Ltd.
|
| Pricing date: | Aug. 24
|
| Settlement date: | Sept. 23
|
| Stock price: | C$0.15 at close Aug. 24
|
| Stock price: | C$0.15 at close Sept. 23
|
|
|
| Flow-through shares
|
| Issue: | Flow-through common shares
|
| Shares: | 9,722,222
|
| Price: | C$0.18
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Issue: | Common shares
|
| Shares: | 4,190,500
|
| Price: | C$0.15
|
| Warrants: | No
|
|
|
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