By Devika Patel
Knoxville, Tenn., Nov. 5 - Kodiak Energy, Inc. said it has closed a $3.65 million brokered private placement of stock.
The company sold 1 million common shares at $2.50 apiece and 50,000 flow-through shares at $3.00 per share for $2.65 million. Kodiak also issued an additional 400,000 common shares at $2.50 per share for $1 million.
Research Capital Corp. was the agent. Kodiak paid Research Capital an 8% commission. Research Capital was also given options, which expire on April 30, 2009, to purchase 80,000 common shares at $2.50 per share and 4,000 common shares at $3.00 per share. Research Capital may also buy 32,000 common shares at $2.50 apiece until May 1, 2009.
All of the shares will have a four-month hold period in Canada and an indefinite hold period in the United States.
Kodiak Energy is an oil and natural gas exploration company based in Calgary, Alta.
| Issuer: | Kodiak Energy, Inc..
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| Issue: | Common shares, flow-through shares
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| Amount: | $3.65 million
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| Warrants: | No
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| Agent: | Research Capital Corp.
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| Fees: | 8%, in cash; options to purchase 116,000 common shares
|
| Settlement date: | Nov. 2
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| Stock symbol: | OTCBB: KDKN
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| Stock price: | $3.36 at close Nov. 2
|
|
|
| Common shares
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| Amount: | $3.5 million
|
| Shares: | 1.4 million
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| Price: | $2.50
|
|
|
| Flow-through shares
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| Amount: | $150,000
|
| Shares: | 50,000
|
| Price: | $3.00
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