By Sheri Kasprzak
New York, May 16 - Open Range Energy Corp. completed a C$5.7 million private placement.
The company issued 1 million flow-through shares in the offering.
The deal was placed through a syndicate of underwriters led by GMP Securities LP and including Sprott Securities Inc., Tristone Capital Inc., Acumen Capital Finance Partners Ltd. and Haywood Securities Inc.
Proceeds will be used for exploration and development activities.
Calgary, Alta.-based Open Range is an oil and natural gas exploration company.
| Issuer: | Open Range Energy Corp.
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| Issue: | Flow-through shares
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| Amount: | C$5.7 million
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| Shares: | 1 million
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| Price: | C$5.70
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| Warrants: | No
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| Underwriters: | GMP Securities LP (lead), Sprott Securities Inc., Tristone Capital Inc., Acumen Capital Finance Partners Ltd., Haywood Securities Inc.
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| Settlement date: | May 16
|
| Stock symbol: | Toronto: ONR
|
| Stock price: | C$4.07 at close May 16
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