Landis cancels C$30 million financing

By Devika Patel

Knoxville, Tenn., Aug. 12 - Landis Energy Corp. announced that "due to current adverse market conditions in the capital markets," it will not proceed with a C$30 million private placement of stock, which priced July 8.

The company said it will continue to pursue alternative strategic financing opportunities for the Alton Natural Gas Storage project.

Landis, based in Calgary, Alta., is an oil and natural gas exploration company. It was formerly known as Landis Mining Corp.

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