By Sheri Kasprzak
New York, Nov. 14 - Aspen Group Resources Corp. priced a C$1,490,080 private placement.
The non-brokered deal includes up to 9,313,000 units at C$0.16 each.
Each unit consists of one share and one warrant. The warrants are exercisable at C$0.22 each for 18 months.
Proceeds will be used for exploration on the company's properties in Manitoba and for working capital.
The company presently has 74,505,354 outstanding common shares.
Calgary, Alta.-based Aspen is an oil and natural gas production, acquisition, exploration and development company.
| Issuer: | Aspen Group Resources Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,490,080
|
| Units: | 9,313,000
|
| Price: | C$0.16
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.22
|
| Placement agent: | Non-brokered
|
| Pricing date: | Nov. 14
|
| Stock symbol: | Toronto: ASR
|
| Stock price: | C$0.20 at close Nov. 14
|
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