By Devika Patel
Knoxville, Tenn., Feb. 23 - Antler Creek Energy Corp. said it plans a non-brokered private placement of units to raise $2 million.
The company will sell 2 million units at $1.00 apiece on a best-efforts basis. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at $1.10 until Feb. 18, 2011 and at $1.25 thereafter until Feb. 18, 2012.
Proceeds will be used to lease oil and gas mineral rights in Zavala, Dimmitt and Maverick counties in south Texas.
The junior oil and gas exploration and development company is based in Calgary, Alta.
| Issuer: | Antler Creek Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $2 million
|
| Units: | 2 million
|
| Price: | $1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Feb. 18, 2012
|
| Warrant strike price: | $1.10 until Feb. 18, 2011, $1.25 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 23
|
| Stock symbol: | TSX Venture: AFE
|
| Stock price: | C$0.45 at close Feb. 22
|
| Market capitalization: | C$1.8 million
|
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