By Susanna Moon
Chicago, June 20 - Tribute Resources Inc. said that it will sell C$4 million in a brokered private placement of units, issuing 20 million units for C$0.20 each.
Units consist of one share and one warrant. Warrants are exercisable at C$0.40 for two years.
The company said that it is possible that one investor, Skyberry Holdings Ltd., a subsidiary of Cloudville Co., Ltd., would subscribe to the entire 20 million unit placement.
Jacob & Co. Securities Inc. is the placement agent.
In May, the company settled a separate private placement of C$2 million.
Proceeds will be used to develop the company's natural gas storage pool in Huron Country, Ontario.
Tribute is an energy company based in London, Ont.
Issuer Tribute Resources Inc.
| Issue: | Units of one share and one warrant
|
| Amount: | C$4 million
|
| Units: | 20 million
|
| Price: | C$0.20
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Jacob & Co. Securities Inc.
|
| Announcement date: | June 20
|
| Settlement date: | June 22
|
| Stock symbol: | TSX Venture: TRB
|
| Stock price: | C$0.365 at close June 20
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
