By Devika Patel
Knoxville, Tenn., Dec. 18 - Oilsands Quest Inc. gave further details on a $9 million non-brokered private placement of stock in an 8-K filed Friday with the Securities and Exchange Commission. The deal priced Dec. 16.
The company will sell 8,571,443 common shares at $1.05 per share.
Settlement is expected Dec. 22.
Proceeds will be used to fund the testing program at the Axe Lake prospect and for general corporate purposes.
Oilsands, based in Calgary, Alta., is an oil and gas exploration company.
| Issuer: | Oilsands Quest Inc.
|
| Issue: | Common shares
|
| Amount: | $8,998,500
|
| Shares: | 8,571,443
|
| Price: | $1.05
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Pricing date: | Dec. 16
|
| Settlement date: | Dec. 22
|
| Stock symbol: | Amex: BQI
|
| Stock price: | $1.13 at close Dec. 16
|
| Market capitalization: | $340 million
|
© 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.
