By Sheri Kasprzak
Atlanta, March 17 - Kodiak Oil & Gas Corp. said it has completed an upsized private placement for C$8.6 million.
The company sold 10 million shares at C$0.86 each, a price increased from the originally announced C$0.70.
The deal was first announced as a C$7 million offering of the same number of shares on Feb. 22.
Jennings Capital Inc. was the placement agent in the offering.
In other news, Kodiak said its first gas sales from its Chicken Springs project in Wyoming have been received.
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 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: | C$8.6 million
|
| Shares: | 10 million
|
| Price: | C$0.86
|
| Warrants: | No
|
| Placement agent: | Jennings Capital Inc.
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 17
|
| Stock price: | C$0.90 at close Feb. 22
|
| Stock price: | C$1.18 at close March 17
|
|
|
© 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.
