By Laura Lutz
Washington, Jan. 30 - Open Range Energy Corp. announced plans for a C$10 million private placement of flow-through shares.
The company plans to sell 2.5 million flow-through shares at C$4.00 each through a syndicate of underwriters led by Sprott Securities Inc.
The underwriters also have a greenshoe for up to 500,000 additional flow-through shares.
Settlement is expected on Feb. 22, subject to regulatory approval.
Proceeds will be used for exploration.
Open Range is a Calgary, Alta.-based oil and natural gas company.
| Issuer: | Open Range Energy Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$10 million
|
| Shares: | 2.5 million
|
| Greenshoe: | For 500,000 shares
|
| Price: | C$4.00
|
| Warrants: | No
|
| Underwriter: | Sprott Securities Inc. (lead)
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 22
|
| Stock symbol: | Toronto: ONR
|
| Stock price: | C$3.17 at close Jan. 29
|
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