By Sheri Kasprzak
Atlanta, Dec. 1 - Arsenal Energy Inc. said Wednesday it has upsized its previously announced C$3 million private placement to C$3.3 million.
The company will issue 4.4 million units at C$0.75 each. The units include one flow-through share and one warrant.
The warrants allow for an additional share at C$1 each for five years.
The deal was first announced Nov. 1 for 4 million units.
Wellington West Capital Inc. is the placement agent in the offering.
Based in Calgary, Alta., Arsenal is an oil and gas exploration company.
Issuer: | Arsenal Energy Inc.
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Issue: | Units of one share and one warrant
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Amount: | C$3.3 million
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Shares: | 4.4 million units
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Price: | C$0.75
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Warrants: | One warrant per unit
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Warrant expiration: | Five years
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Warrant strike price: | C$1
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Placement agent: | Wellington West Capital Inc.
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Announcement date: | Nov. 1
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Amended: | Dec. 1
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Stock price: | C$0.65 at close Nov. 1
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Stock price: | C$0.60 at close Nov. 30
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