Company will sell 1,817,500 common shares at C$1.80 per share
By Devika Patel
Knoxville, Tenn., July 2 – Twin Butte Energy Ltd. said it will raise C$3.27 million in a private placement of stock.
The company will sell 1,817,500 common shares at C$1.80 apiece. The price per share is identical to the July 1 closing share price and is also the volume-weighted average price of the shares for the five trading days preceding June 30, the company said in a press release.
Settlement is expected on July 8.
Proceeds will be used for general corporate purposes.
Twin Butte is an oil and gas company based in Calgary, Alta.
| Issuer: | Twin Butte Energy Ltd.
|
| Issue: | Common stock
|
| Amount: | C$3,271,500
|
| Shares: | 1,817,500
|
| Price: | C$1.80
|
| Warrants: | No
|
| Pricing date: | July 2
|
| Settlement date: | July 8
|
| Stock symbol: | Toronto: TBE
|
| Stock price: | C$1.80 at close July 1
|
| Market capitalization: | C$631.48 million
|
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