By Sheri Kasprzak
New York, Feb. 6 - Arctos Petroleum Corp. said it has negotiated a non-brokered private placement for up to C$1.6 million.
The company plans to sell up to 16 million units at C$0.10 each.
The units include one flow-through or non flow-through share and one warrant. The warrants are exercisable at C$0.10 each for two years.
Proceeds will be used for drilling on the company's Snipe Lake and McGowan properties. The rest will be used for working capital.
Based in Calgary, Alta., Arctos in an oil and natural gas exploration, development and production company.
| Issuer: | Arctos Petroleum Corp.
|
| Issue: | Units of one flow-through or non flow-through share and one warrant
|
| Amount: | C$1.6 million
|
| Units: | 16 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Placement agent: | Non-brokered
|
| Pricing date: | Feb. 6
|
| Stock symbol: | TSX Venture: APO
|
| Stock price: | C$0.10 at close Feb. 6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
