Published on 3/7/2007 in the Prospect News PIPE Daily.
New Issue: Oilsands Quest closes first tranche of C$30 million stock sale
By Sheri Kasprzak
New York, March 7 - Oilsands Quest Inc. has settled the first tranche of a C$30 million private placement for $17,470,091.
So far, the company has issued 3,097,534 flow-through shares at C$5.64 each.
The remaining 2,222,466 shares will be sold before May 6.
Calgary,Alta.-based Oilsands, formerly known as CanWest Petroleum Corp., is an oil sands exploration company focused on properties in Saskatchewan and Alberta.
| Issuer: | Oilsands Quest Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$30,004,800, including C$17,470,091 in first tranche
|
| Shares: | 5.32 million, including 3,097,534 in first tranche
|
| Price: | C$5.64
|
| Warrants: | No
|
| Settlement date: | March 6 (for first tranche)
|
| Settlement date: | May 6 (for remaining tranche)
|
| Stock symbol: | Amex: BQI
|
| Stock price: | US$3.22 at close March 6
|
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