By Sheri Kasprzak
New York, Sept. 29 - Longford Corp. said it has priced a C$1 million non-brokered private placement.
The company will sell a combination of units and flow-through shares at C$0.25 each.
The exact breakdown of the units and shares has not yet been determined.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$0.25 each for 18 months.
Separately, Longford has granted stock options to its directors, officers and consultants for up to 400,000 shares at C$0.25 each.
In other news, David Walters was appointed the company's president and chief executive officer. He replaces Don Parker, who resigned.
Based in Calgary, Alta., Longford is an oil and natural gas exploration company.
| Issuer: | Longford Corp.
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| Issue: | Flow-through shares and units of one share and one half-share warrant
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| Amount: | C$1 million
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.25
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| Pricing date: | Sept. 28
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| Stock price: | C$0.24 at close Sept. 28
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