By Devika Patel
Knoxville, Tenn., Dec. 21 - Tethys Petroleum Ltd. said it plans to conduct a $5 million private placement of stock.
The company will sell 10 million ordinary shares.
Proceeds will be used for project development and capital expenditures.
The oil and gas explorer is based in Toronto.
| Issuer: | Tethys Petroleum Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | $5 million
|
| Shares: | 10 million
|
| Warrants: | No
|
| Pricing date: | Dec. 21
|
| Stock symbol: | Toronto: TPL
|
| Stock price: | C$0.58 at close Dec. 18
|
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