By Sheri Kasprzak
New York, Nov. 2 - Kootenay Energy Inc. said it has upsized to C$3.7 million its previously announced C$3 million private placement.
The company now intends to sell up to 4,625,000 shares at C$0.80 each.
The offering was first announced Sept. 22 as a C$3 million deal of 3.75 million shares under the same terms.
Proceeds will be used for drilling on the company's oil and natural gas properties.
Based in Calgary, Alta., Kootenay is an oil and natural gas exploration company.
| Issuer: | Kootenay Energy Inc.
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| Issue: | Stock
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| Amount: | C$3.7 million
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| Shares: | 4,625,000
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| Price: | C$0.80
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| Warrants: | No
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| Pricing date: | Sept. 22
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| Upsized: | Nov. 2
|
| Stock price: | C$0.85 at close Sept. 22
|
| Stock price: | C$0.76 at close Nov. 2
|
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