By Laura Lutz
Des Moines, April 23 - Welton Energy Corp. negotiated a private placement of flow-through shares for at least C$2,500,011.
The company plans to sell at least 2,906,990 flow-through shares at C$0.86 each.
Acumen Capital Finance Partners Ltd. will act as agent for 1,744,200 of the shares. The remainder will be non-brokered.
Acumen has a greenshoe for additional shares, with the condition that the total placement size may not exceed C$5 million.
Proceeds will be used for exploration and working capital.
Settlement is expected by May 10.
Welton is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Welton Energy Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$2,500,011
|
| Shares: | 2,906,990
|
| Greenshoe: | For total proceeds of up to C$5 million
|
| Price: | C$0.86
|
| Warrants: | No
|
| Agent: | Acumen Capital Finance Partners Ltd. (for 1,744,200 shares)
|
| Pricing date: | April 23
|
| Settlement date: | May 10
|
| Stock symbol: | Toronto: WLT
|
| Stock price: | C$0.75 at close April 20
|
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