By Sheri Kasprzak
New York, Sept. 22 - Kootenay Energy Inc. said it has priced a C$3 million private placement.
The company plans to sell up to 3.75 million shares at C$0.80 each.
Proceeds will be used for drilling on the company's oil and natural gas properties.
In other news, Kootenay said it has granted stock options to directors, officers, employees and consultants for up to 580,000 shares, exercisable at C$0.85 each through Sept. 21, 2010.
Based in Calgary, Alta., Kootenay is an oil and natural gas exploration company.
| Issuer: | Kootenay Energy Inc.
|
| Issue: | Stock
|
| Amount: | C$3 million (maximum)
|
| Shares: | 3.75 million (maximum)
|
| Price: | C$0.80
|
| Warrants: | No
|
| Pricing date: | Sept. 22
|
| Stock price: | C$0.85 at close Sept. 22
|
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