By Laura Lutz
Des Moines, March 4 - Arsenal Energy Inc. plans to complete a private placement of shares for up to C$6 million.
The placement will consist of flow-through shares at C$0.72 apiece and non flow-through shares at C$0.63 apiece.
No more than C$4 million of the deal will be non flow-through shares.
Emerging Equities Inc. will act as underwriter and agent for the offering, C$2 million of which will be placed on a bought-deal basis.
Settlement is expected on March 20.
Aresnal is an oil and gas company based in Calgary, Alta.
| Issuer: | Arsenal Energy Inc.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$6 million (maximum)
|
| Agent: | Emerging Equities Inc.
|
| Pricing date: | March 4
|
| Settlement date: | March 20
|
| Stock symbol: | Toronto: AEI
|
| Stock price: | C$0.67 at close March 4
|
|
|
| Flow-through shares
|
| Amount: | C$4 million (maximum)
|
| Price: | C$0.72
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Price: | C$0.63
|
| Warrants: | No
|
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