By Laura Lutz
Washington, Feb. 9 - West Africa Energy Inc. plans to close a private placement of units for up to C$3.6 million.
The company intends to sell up to 8 million units of one share and one warrant at C$0.45 per unit. Each warrant will be exercisable at C$0.60 for two years.
The placement is a condition of the company's planned acquisition of two properties from Arax Energy Inc.
Vancouver, B.C.-based West Africa is an oil and natural gas exploration company.
| Issuer: | West Africa Energy Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3.6 million
|
| Units: | 8 million
|
| Price: | C$0.45
|
| Warrants: | One per unit
|
| Warrant expiration; | Two years
|
| Warrant strike price: | C$0.60
|
| Pricing date: | Feb. 9
|
| Stock symbol: | TSX Venture: WAE
|
| Stock price: | C$0.47 at close Feb. 8
|
© 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.
