By Devika Patel
Knoxville, Tenn., Sept. 28 - Kodiak Energy, Inc. raised C$12.49 million in a private placement of shares, sold exclusively outside of the United States, according to an 8-K filed with the Securities and Exchange Commission Friday.
The company sold 4,622,670 common shares. Of these, 2,756,000 were sold at C$2.50 each and 1,866,670 were sold at C$3.00 apiece.
Research Capital Corp. was the agent. Kodiak paid Research Capital C$999,200, or 8% of the proceeds raised. Research was also given options to purchase 220,480 common shares at $2.50 per share and 149,334 common shares at $3.00 apiece for two years.
Research also has a greenshoe to sell additional common stock and a right of first refusal for future securities offerings in Canada and investment banking and advisory rights for 18 months.
All of the shares will have a four-month hold period.
Kodiak Energy is an oil and natural gas exploration company based in Calgary, Alta.
| Issuer: | Kodiak Energy, Inc.
|
| Issue: | Common shares
|
| Amount: | C$12.49 million
|
| Shares: | 4,622,670
|
| Price: | C$2.50 (for 2,756,000 shares); C$3.00 (for 1,866,670 shares)
|
| Warrants: | No
|
| Agent: | Research Capital Corp.
|
| Fees: | C$999,200, or 8%, in cash; options to purchase 220,480 common shares at $2.50 per share and 149,334 common shares at $3.00 apiece for two years
|
| Settlement date: | Sept. 28
|
| Stock symbol: | OTCBB: MMI
|
| Stock price: | $3.35 at close Sept. 28
|
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