By Laura Lutz
Washington, Feb. 20 - Oilsands Quest Inc. negotiated a private placement of flow-through shares for C$30,004,800.
The company plans to sell 5.32 million common shares to Canadian investors at C$5.64 per share.
Proceeds will be used for exploration on the lands of Oilsands's subsidiary, Oilsands Quest Sask Inc.
The deal will be placed through a syndicate of underwriters.
Settlement is expected on March 6.
Oilsands is an oil exploration company based in Calgary, Alta.
| Issuer: | Oilsands Quest Inc.
|
| Issue: | Shares
|
| Amount: | C$30,004,800
|
| Shares: | 5.32 million
|
| Price: | C$5.64
|
| Warrants: | No
|
| Pricing date: | Feb. 20
|
| Stock symbol: | AMEX: BQI
|
| Stock price: | $3.85 at close Feb. 20
|
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