By Sheri Kasprzak
Atlanta, Nov. 2 - Technicoil Corp. entered the private placement market with a C$11 million offering, the company said Tuesday.
The deal includes 5.65 million shares at C$1.95.
Peters & Co. Ltd. is the lead placement agent in the offering in a syndicate that includes Sprott Securities Inc.
Technicoil expects the deal to close Nov. 22.
Based in Calgary, Alta., Technicoil is an oil and gas service company. The company plans to use the proceeds from the financing to fund the construction of six coil-fracturing units.
| Issuer: | Technicoil Corp.
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| Issue: | Stock
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| Amount: | C$11 million
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| Shares: | 5.65 million
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| Price: | C$1.95
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| Warrants: | No
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| Placement agent: | Peters & Co. Ltd. (lead agent); Sprott Securities Inc.
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| Announcement date: | Nov. 2
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| Settlement date: | Nov. 22
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| Stock price: | C$2.15 at close Nov. 1
|
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