By Sheri Kasprzak
Atlanta, Feb. 22 - Kodiak Oil & Gas Corp. said it has planned a private placement for up to $7 million.
The company will sell up to 10 million shares at $0.70 each.
Jennings Capital Inc. is the placement agent in the offering, which is expected to close March 10.
The shares sold in the deal will be subject to a four-month hold since Kodiak is traded on the Toronto Stock Exchange.
Based in Denver, Kodiak is an energy exploration and development company focused on hydrocarbons in the Rocky Mountains. The proceeds from the private placement will be used to fund the company's exploration and drilling programs in the Pacific Rim properties of the Green River Basin in Wyoming and its oil prospects in the Williston Basin of eastern Montana and western North Dakota. The remainder will be used for general corporate purposes.
| Issuer: | Kodiak Oil & Gas Corp.
|
| Issue: | Stock
|
| Amount: | $7 million (maximum)
|
| Shares: | 10 million (maximum)
|
| Price: | $0.70
|
| Warrants: | No
|
| Placement agent: | Jennings Capital Inc.
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 10
|
| Stock price: | C$0.90 at close Feb. 21
|
|
|
© 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.
