Company selling 50 million units of one share, one warrant at C$0.10
By Toni Weeks
San Luis Obispo, Calif., April 14 - Knol Resources Corp. said it closed the first tranche of a C$5 million non-brokered private placement of units, raising C$4.7 million.
The company is selling 50 million units of one common share and one warrant at C$0.10 per unit. It sold 47 million units in the first tranche.
Each warrant is exercisable at C$0.20 until April 11, 2019. The strike price reflects a 100% premium to the Feb. 19 closing share price of C$0.10.
Sprott Private Wealth LP and affiliates of Sprott Inc. acted as finders and were paid a 6% cash commission.
Proceeds will be used to acquire oil and gas interests in Canada, for exploration and development activities and for general corporate purposes.
The oil and gas company is based in Vancouver, B.C.
| Issuer: | Knol Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$5 million
|
| Units: | 50 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | April 11, 2019
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 20
|
| Settlement date: | April 14 (for C$4.7 million)
|
| Stock symbol: | TSX Venture: NOL
|
| Stock price: | C$0.10 at close Feb. 19
|
| Market capitalization: | C$626,610
|
© 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.
