By Devika Patel
Knoxville, Tenn., Aug. 27 - Argenta Oil & Gas Inc. said it will raise between C$2 million and C$3 million in a private placement of units. The deal will be conducted by Toll Cross Securities Inc.
The company will sell units of one common share and one half-share warrant at C$0.04 per unit. The whole warrants are exercisable at C$0.10 for 18 months.
Argenta, based in Toronto, is an energy resource company with oil and gas assets in the Neuquen Basin of Argentina and in Colombia's Lower Magdalena Basin.
| Issuer: | Argenta Oil & Gas Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million (minimum), C$3 million (maximum)
|
| Price: | C$0.04
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.10
|
| Agent: | Toll Cross Securities Inc.
|
| Pricing date: | Aug. 27
|
| Stock symbol: | TSX Venture: AZA
|
| Stock price: | C$0.035 at close Aug. 26
|
| Market capitalization: | C$4.84 million
|
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