Agent Richardson is selling 20 million common shares at C$0.10 apiece
By Devika Patel
Knoxville, Tenn., Sept. 10 – Artisan Energy Corp. said it raised C$335,000 in the second tranche of a C$2 million private placement of stock. Richardson GMP Ltd. is the agent for the deal, which priced on July 20 and was amended on Aug. 10. The company raised C$374,400 on Aug. 31.
The company is selling 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 sold 3,744,000 shares in the first tranche and 3.35 million shares in the second.
The company previously planned to sell 13,333,333 common shares at C$0.15 per share.
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. 31 (for C$374,400), Sept. 10 (for C$335,000)
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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$4.35 million
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