By Sheri Kasprzak
Atlanta, Dec. 6 - Sharon Energy Ltd. said Monday it plans to raise up to C$1 million in a private placement.
The company plans to issue 5 million flow-through common shares at C$0.20 each.
Placement agent First Associates Investments Inc. has a greenshoe option in the deal for 10% of the number of shares issued in the agreement. The greenshoe is exercisable for one year after closing.
The private placement is scheduled to close Dec. 31.
Sharon Energy is a Calgary, Alta.-based oil and gas exploration and development company. The company plans to use the proceeds for its 2005 exploration and development program.
| Issuer: | Sharon Energy Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$1 million
|
| Shares: | 5 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Placement agent: | First Associates Investments Inc.
|
| Greenshoe: | 10% of the number of shares issued for one year
|
| Announcement date: | Dec. 6
|
| Settlement date: | Dec. 31
|
| Stock price: | C$0.17 at close Dec. 3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
