By Sheri Kasprzak
Atlanta, Nov. 3 - Triloch Resources Inc. said Wednesday it will raise C$3 million in a private placement.
GMP Securities Ltd. will act as underwriter in the bought-deal private placement, which consists of 1 million class A flow-through common shares at C$3 per share.
Upon completion of the deal, Triloch will have 18,399,452 class A common shares and 807,752 class B common shares issued and outstanding. Triloch expects the deal to close Nov. 18.
Triloch, based in Calgary, Alta., is an oil and natural gas exploration company. It plans to use the proceeds from the deal for further exploration.
| Issuer: | Triloch Resources Inc.
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| Issue: | Stock
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| Amount: | C$3 million
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| Shares: | 1 million
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| Price: | C$3
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| Warrants: | No
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| Underwriter: | GMP Securities Ltd.
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| Announcement date: | Nov. 3
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| Settlement date: | Nov. 18
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| Stock price: | C$2.49 at close Nov. 2 (last trade)
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