By Devika Patel
Knoxville, Tenn., Dec. 11 - Argosy Energy Inc. said it plans a C$7 million non-brokered private placement of units.
The company will sell 1.75 million flow-through units of one common share and one half-share warrant at C$2.00 per unit. It also will sell 1,944,367 units of one common share and one half-share warrant at C$1.80 per unit.
Each whole warrant will be exercisable at C$2.25 for 18 months.
Proceeds will be used for the company's planned acquisition of Radius Resources Corp.'s shares.
Argosy is a junior oil and gas company in Calgary, Alta.
| Issuer: | Argosy Energy Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one half-share warrant
|
| Amount: | C$7 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.25
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 10
|
| Stock symbol: | Toronto: GSI
|
| Stock price: | C$1.20 at close Dec. 10
|
| Market capitalization: | C$13.5 million
|
|
|
| Flow-through units
|
| Amount: | C$3.5 million
|
| Units: | 1.75 million
|
| Price: | C$2.00
|
|
|
| Units
|
| Amount: | C$3.5 million
|
| Units: | 1,944,367
|
| Price: | C$1.80
|
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