By Sheri Kasprzak
New York, Sept. 16 - Odyssey Petroleum Corp. said it has increased the size of its previously announced private placement to C$5.12 million from C$2.1 million.
The company will now sell 16 million units at C$0.32 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.425 each for one year.
The deal was first announced Sept. 9 as a C$2.1 million offering of 7 million units at C$0.30 each. The warrants had originally been exercisable at C$0.40 each.
Proceeds from the offering will be used for the company's oil and natural gas projects in the Puckett and Pelahatchie fields in Mississippi and for working capital.
Based in Vancouver, B.C., Odyssey is an oil and natural gas exploration company.
| Issuer: | Odyssey Petroleum Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$5.12 million
|
| Units: | 16 million
|
| Price: | C$0.32
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.425
|
| Pricing date: | Sept. 9
|
| Amended: | Sept. 15
|
| Stock price: | C$0.38 at close Sept. 9
|
| Stock price: | C$0.389 at close Sept. 15
|
|
|
© 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.
