By Laura Lutz
Des Moines, Nov. 9 - Open Range Energy Corp. its previously announced private placement of shares for C$8,251,265, including a fully exercised greenshoe for C$750,000.
The company sold 2,324,300 shares, including the greenshoe for 211,300 shares, at C$3.55 per share.
The shares were placed through an underwriting syndicate led by Sprott Securities Inc. and including GMP Securities LP, Paradigm Capital Inc., Tristone Capital Inc., Acumen Capital Finance Partners Ltd. and Haywood Securities Inc.
Settlement is expected on Nov. 9, subject to regulatory approval and completion of definitive documentation.
Proceeds will be used for exploration and development.
Open Range is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Open Range Energy Corp.
|
| Issue: | Stock
|
| Amount: | C$8,251,265
|
| Shares: | 2,324,300 million (includes greenshoe for 211,300 shares)
|
| Price: | C$3.55
|
| Warrants: | No
|
| Underwriters: | Sprott Securities Inc. (lead), GMP Securities LP, Paradigm Capital Inc., Tristone Capital Inc., Acumen Capital Finance Partners Ltd. and Haywood Securities Inc.
|
| Pricing date: | Oct. 23
|
| Settlement date: | Nov. 9
|
| Stock symbol: | Toronto: ONR
|
| Stock price: | C$3.55 at close Oct. 20
|
| Stock price: | C$3.16 at close Nov. 8
|
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