By Devika Patel
Knoxville, Tenn., Nov. 21 - Arsenal Energy Inc. said it plans a C$4 million private placement of shares.
The company will sell 9,302,326 flow-through common shares at C$0.43 apiece.
Emerging Equities Inc. will be the agent.
Proceeds will be used for exploration. The deal is expected to settle on Nov. 30.
Calgary, Alta.-based Arsenal is an oil and natural gas exploration company.
| Issuer: | Arsenal Energy Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$4 million
|
| Shares: | 9,302,326
|
| Price: | C$0.43
|
| Warrants: | No
|
| Agent: | Emerging Equities Inc.
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 30
|
| Stock symbol: | Toronto: AEI
|
| Stock price: | C$0.37 at close Nov. 20
|
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