Oil and gas explorer sells units of shares and warrants at $0.15 each
By Devika Patel
Knoxville, Tenn., Jan. 19 - Kodiak Energy, Inc. settled a private placement of units on Jan. 18, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The offering raised $1.5 million.
The company sold 10 million units at $0.15 each. The units consist of one common share and one warrant with each two-year warrant exercisable at $0.50 until Jan. 18, 2013. The strike price reflects a 61.29% premium to the Jan. 14 closing share price of $0.31.
Kodiak Energy is an oil and natural gas exploration company based in Calgary, Alta.
| Issuer: | Kodiak Energy, Inc.
|
| Issue: | Units of one common share and one warrant
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| Amount: | $7.5 million
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| Units: | 10 million
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| Price: | $0.15
|
| Warrants: | One warrant per unit
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| Warrant expiration: | Jan. 18, 2013
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| Warrant strike price: | $0.50
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| Settlement date: | Jan. 18
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| Stock symbol: | OTCBB: KDKN
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| Stock price: | $0.23 at close Jan. 18
|
| Market capitalization: | $31.25 million
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