By Laura Lutz
Washington, Nov. 28 - Longford Corp. intends to raise up to C$2 million from a private placement of units and flow-through shares.
The company plans to sell units of one non flow-through share and one half-share warrant at C$0.25 per unit and flow-through shares at C$0.30 each.
Each whole warrant will be exercisable for one non flow-through share at C$0.35 for 18 months.
The deal will be non-brokered.
Longford is an oil and gas exploration company based in Calgary, Alta.
| Issuer: | Longford Corp.
|
| Issue: | Units of one non flow-through share and one half-share non flow-through warrant and flow-through units
|
| Amount: | C$2 million
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 28
|
| Stock symbol: | TSX Venture: LFD
|
| Stock price: | C$0.22 at close Nov. 27
|
|
|
| Units
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.35
|
|
|
| Flow-through shares
|
| Price: | C$0.30
|
| Warrants: | No
|
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