By Sheri Kasprzak
New York, Sept. 26 - Arapahoe Energy Corp. said it has upsized its previously announced private placement to C$3 million from C$2 million.
The company will now sell 2 million flow-through shares at C$0.75 each and 2,307,692 non flow-through shares at C$0.65 each.
The offering was first announced Sept. 23 as a C$2 million deal comprised of 1,333,333 flow-through shares and 1,538,462 non flow-through shares under the same terms.
Dominick & Dominick Securities Inc. is the placement agent.
The proceeds from the deal will be used for the company's 2005 drilling program and for working capital.
Based in Calgary, Alta., Arapahoe is an oil and natural gas exploration company.
| Issuer: | Arapahoe Energy Corp.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$3 million
|
| Placement agent: | Dominick & Dominick Securities Inc.
|
| Pricing date: | Sept. 23
|
| Upsized: | Sept. 26
|
| Stock price: | C$0.62 at close Sept. 22
|
| Stock price: | C$0.65 at close Sept. 26
|
|
|
| Flow-through shares
|
| Shares: | 2 million
|
| Price: | C$0.75
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 2,307,692
|
| Price: | C$0.65
|
| Warrants: | No
|
|
|
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