By Devika Patel
Knoxville, Tenn., March 16 - Triangle Petroleum Corp. said it completed a $9.24 million private placement of stock. The deal priced for $9.2 million on March 11.
The company sold 27,993,939 common shares at $0.33 apiece.
Johnson Rice & Co. LLC was the agent.
Proceeds will be used to finance development obligations, acquire and develop additional acreage in the Bakken Shale play and for general corporate purposes.
Calgary, Alta.-based Triangle Petroleum is an oil and gas exploration company.
Issuer: | Triangle Petroleum Corp.
|
Issue: | Common stock
|
Amount: | $9,238,000
|
Shares: | 27,993,939
|
Price: | $0.33
|
Warrants: | No
|
Agent: | Johnson Rice & Co. LLC
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Pricing date: | March 11
|
Settlement date: | March 16
|
Stock symbol: | OTCBB: TPLM
|
Stock price: | $0.42 at close March 11
|
Market capitalization: | $32.2 million
|
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