By Laura Lutz
Des Moines, April 18 - Oilsands Quest Inc. announced pricing for its $38.5 million private placement of shares.
The company plans to sell 14 million shares to investors in Canada and the United States at $2.75 each.
Proceeds will be used to repay debt and for feasibility testing, working capital and general corporate purposes.
The offering was first announced on April 17. Settlement is expected on May 1.
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: | Shares
|
| Amount: | $38.5 million
|
| Shares: | 14 million
|
| Price: | $2.75
|
| Warrants: | No
|
| Announcement date: | April 17
|
| Pricing date: | April 18
|
| Settlement date: | May 1
|
| Stock symbol: | Amex: BQI
|
| Stock price: | $3.16 at close April 18
|
© 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.
