By Sheri Kasprzak
Atlanta, Dec. 8 - Kodiak Energy Services Ltd. said Wednesday it closed a private placement for C$369,413, downsized from the previously announced C$1.2 million.
The company issued 1,026,147 units at C$0.36 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$0.50 for two years.
On Sept. 22, the company said it planned to raise C$200,000 and on Nov. 4, the company announced that it was dropping the price of the offering to C$0.36 from C$0.40. The amount to be raised in the offering was also increased to C$1.2 million.
Based in Calgary, Alta., Kodiak is an oilfield and environmental services company. It plans to use the proceeds from the amended private placement for acquisitions of assets, properties or existing businesses.
| Issuer: | Kodiak Energy Services Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$369,413
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| Shares: | 1,026,147 units
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| Price: | C$0.36
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50
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| Announcement date: | Sept. 22
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| Settlement date: | Dec. 8
|
| Stock price: | C$0.41 at close Sept. 22
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| Stock price: | C$0.45 at close Nov. 1 (last trade)
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