By Sheri Kasprzak
New York, Dec. 5 - Trimox Energy Inc. said it intends to raise C$5.2 million from a private placement.
The offering includes 1 million class A shares at C$2.30 each and 1 million flow-through class A shares at C$2.90 each.
Insiders of the company may buy up to 50,000 class A shares and 70,000 flow-through shares.
The deal is slated to close Dec. 21.
Proceeds will be used for exploration and development on the company's Worsley property in the Peace River Arch area of Alberta.
Based in Calgary, Alta., Trimox is an oil and natural gas exploration company.
| Issuer: | Trimox Energy Inc.
|
| Issue: | Class A shares and class A flow-through shares
|
| Amount: | C$5.2 million
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 21
|
| Stock price: | C$2.50 at close Dec. 5
|
|
|
| Class A shares
|
| Shares: | 1 million
|
| Price: | C$2.30
|
| Warrants: | No
|
|
|
| Class A flow-through shares
|
| Shares: | 1 million
|
| Price: | C$2.90
|
| Warrants: | No
|
|
|
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