By Sheri Kasprzak
Atlanta, Dec. 6 - Mart Resources Inc. said Monday it has finished an upsized private placement for C$7,878,749.
The company issued 17,508,333 shares at C$0.45 each, an offering that included 8,333 more shares than a previously upsized version of the private placement.
The deal was originally announced as a C$6.3 million offering on Oct. 21 and included 14 million shares at the same price. The deal was upsized to C$7.875 million Dec. 2 in an offering comprised of 17.5 million shares at the same price.
Mart, based in Calgary, Alta., is an oil, gas and power company with projects based mainly in Africa. The proceeds from its private placement will be used to contract a service rig for testing and for activities in the company's Nigerian oil and gas fields.
| Issuer: | Mart Resources Inc.
|
| Issue: | Stock
|
| Amount: | C$7,878,749
|
| Shares: | 17,508,333
|
| Price: | C$0.45
|
| Warrants: | No
|
| Announcement date: | Oct. 21
|
| Settlement date: | Dec. 6
|
| Stock price: | C$0.49 at close Oct. 21
|
| Stock price: | C$0.60 at close Dec. 3
|
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