By Laura Lutz
Washington, Feb. 22 - Open Range Energy Corp. raised C$12 million from its previously announced private placement of flow-through shares, including a greenshoe for C$2 million.
The company sold 3 million flow-through shares at C$4.00 each through a syndicate of underwriters led by Sprott Securities Inc.
The greenshoe included 500,000 shares.
The deal priced on Jan. 30 as a C$10 million offering of 2.5 million units.
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$12 million
|
| Shares: | 3 million (includes 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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