By Sheri Kasprzak
New York, Dec. 14 - Open Range Energy Corp. said it intends to raise C$5,002,250 in a private placement through a syndicate of underwriters led by GMP Securities LP.
The deal includes 1,177,000 shares at C$4.25 each.
The syndicate also includes Sprott Securities Inc., Haywood Securities Inc. and Tristone Capital Inc.
The offering is scheduled to close Jan. 10.
Proceeds will be used for exploration and development.
Based in Calgary, Alta., Open Range is an oil and natural gas exploration company.
| Issuer: | Open Range Energy Corp.
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| Issue: | Stock
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| Amount: | C$5,002,250
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| Shares: | 1,177,000
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| Price: | C$4.25
|
| Warrants: | No
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| Underwriters: | GMP Securities LP (lead), Sprott Securities Inc., Haywood Securities Inc., Tristone Capital Inc.
|
| Pricing date: | Dec. 14
|
| Settlement date: | Jan. 10
|
| Stock price: | C$4.65 at close Dec. 14
|
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