By Sheri Kasprzak
New York, Nov. 28 - Tenergy Ltd. said it has priced an C$8 million private placement.
The deal includes 833,334 flow-through shares at C$6.00 each and 652,174 shares at C$4.60 each.
Acumen Capital Partners and GMP Securities Ltd. are the placement agents for the offering, which is expected to close Dec. 15.
The proceeds will be used for the company's drilling program on the Tenaka natural gas project in British Columbia.
Based in Calgary, Alta., Tenergy is a natural gas exploration company formed by the reorganization of Purcell Energy Ltd. on Nov. 2.
| Issuer: | Tenergy Ltd.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$8 million
|
| Placement agents: | Acumen Capital Partners and GMP Securities Ltd.
|
| Pricing date: | Nov. 28
|
| Settlement date: | Dec. 15
|
| Stock price: | C$4.90 at close Nov. 28
|
|
|
| Flow-through shares
|
| Shares: | 833,334
|
| Price: | C$6.00
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 652,174
|
| Price: | C$4.60
|
| Warrants: | No
|
|
|
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