Deal to fund drilling of Ellerslie, Glauconite, Belly River prospects
By Toni Weeks
San Diego, July 11 - Waldron Energy Corp. said it has negotiated a C$2.05 million non-brokered private placement of stock.
The company is selling 3.6 million flow-through shares at C$0.57 per share, an 11.76% premium to the closing share price of C$0.51 on July 10.
Insiders will invest about C$1 million.
Settlement is expected on July 25.
Proceeds will be used for drilling of the company's core areas targeting the Ellerslie, Glauconite and Belly River prospects.
Waldron, based in Calgary, Alta., explores for, develops and produces petroleum and natural gas.
| Issuer: | Waldron Energy Corp.
|
| Issue: | Flow through common shares
|
| Amount: | C$2,052,000
|
| Shares: | 3.6 million
|
| Price: | C$0.57
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 11
|
| Settlement date: | July 25
|
| Stock symbol: | TSX Venture: WDN
|
| Stock price: | C$0.51 at close July 10
|
| Market capitalization: | C$17.51 million
|
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