By Sheri Kasprzak
New York, May 30 - Arapahoe Energy Corp. settled a C$3,650,010 private placement.
The deal includes up to 5,615,400 flow-through shares at C$0.65 each.
Dominick & Dominick Securities Inc. was the placement agent.
The proceeds will be used for drilling on the company's Freemont, Senlac and Poundmaker properties in Saskatchewan. The rest will be used for drilling on the coal bed methane projects on the Sarcee properties.
Calgary, Alta.-based Arapahoe is an oil and natural gas exploration company.
| Issuer: | Arapahoe Energy Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$3,650,010
|
| Shares: | 5,615,400
|
| Price: | C$0.65
|
| Warrants: | No
|
| Placement agent: | Dominick & Dominick Securities Inc.
|
| Settlement date: | May 30
|
| Stock symbol: | TSX Venture: AAO
|
| Stock price: | C$0.55 at close May 30
|
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