By Laura Lutz
Washington, Feb. 2 - True North Energy Corp. closed a private placement of units for $2 million.
The company sold 800,000 units of one share and one warrant at $2.50 per unit. Each warrant is exercisable at $3.50 for three years.
Proceeds will be used for drilling and for working capital.
True North is a Houston-based oil and gas company.
| Issuer: | True North Energy Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $2 million
|
| Units: | 800,000
|
| Price: | $2.50
|
| Warrants: | One per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $3.50
|
| Settlement date: | Feb. 2
|
| Stock symbol: | OTCBB: TNEN
|
| Stock price: | $2.38 at close Feb. 1
|
© 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.
