By Sheri Kasprzak
New York, July 11 - TG World Energy Corp. proposed a private placement for up to C$15 million.
The offering includes up to 12.5 million units at C$1.20 each.
The units are comprised of one share and one half-share warrant with each whole warrant exercisable at C$1.50 for one year.
A syndicate of agents led by Tristone Capital Inc. and Canaccord Capital Corp. and including Jennings Capital Inc. has a greenshoe for up to C$5 million.
The deal is scheduled to close the fourth week of August.
Proceeds will be used for ongoing exploration of oil and gas assets in Alaska and Niger. The rest will be used for general corporate purposes.
Calgary, Alta.-based TG World is an oil and natural gas exploration and development company.
| Issuer: | TG World Energy Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$15 million
|
| Greenshoe: | C$5 million
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| Units: | 12.5 million
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| Price: | C$1.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.50
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| Placement agents: | Tristone Capital Inc. (lead), Canaccord Capital Corp. (lead), Jennings Capital Inc.
|
| Pricing date: | July 11
|
| Stock symbol: | TSX Venture: TGE
|
| Stock price: | C$1.24 at close July 11
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