Agent Richardson now selling 20 million common shares at C$0.10 apiece
By Devika Patel
Knoxville, Tenn., Aug. 10 – Artisan Energy Corp. said it amended the terms of its C$2 million private placement of stock. Richardson GMP Ltd. is the agent for the deal, which priced on July 20.
The company will now sell 20 million common shares at C$0.10 apiece on a commercially reasonable efforts basis. The price per share is a 33.33% discount to the July 17 closing share price of C$0.15. Artisan Energy previously planned to sell 13,333,333 common shares at C$0.15 per share.
Settlement is expected Aug. 27.
Proceeds will be used to repay Artisan's mezzanine loan facility and for general working capital purposes.
The oil and gas explorer is based in Calgary, Alta.
Issuer: | Artisan Energy Corp.
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Issue: | Common shares
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Amount: | C$2 million
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Shares: | 20 million
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Price: | C$0.10
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Warrants: | No
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Agent: | Richardson GMP Ltd.
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Pricing date: | July 20
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Amended: | Aug. 10
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Settlement date: | Aug. 27
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Stock symbol: | TSX Venture: AEC
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Stock price: | C$0.15 at close July 17
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Market capitalization: | C$6.53 million
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