Non-brokered offering slated to fund exploration and working capital
By Devika Patel
Knoxville, Tenn., April 22 - Mooncor Oil & Gas Corp. said it will raise C$1.5 million in a non-brokered private placement of stock and units.
The company will sell flow-through common shares at C$0.08 apiece and units of one common share and one warrant at C$0.06 per unit. Each warrant will be exercisable at C$0.10 for two years.
The price per share is a 166.67% premium to the April 21 closing share price of C$0.03. The strike price reflects a 233.33% premium to that price.
Proceeds will be used for exploration and working capital.
Mooncor is a junior oil and gas exploration and production company based in Calgary, Alta.
| Issuer: | Mooncor Oil & Gas Corp.
|
| Issue: | Flow-through common shares, units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Agent: | Non-brokered
|
| Pricing date: | April 22
|
| Stock symbol: | TSX Venture: MOO
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| Stock price: | C$0.03 at close April 21
|
| Market capitalization: | C$5.25 million
|
|
|
| Shares
|
| Price: | C$0.08
|
| Warrants: | No
|
|
|
| Units
|
| Price: | C$0.06
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
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