By Devika Patel
Knoxville, Tenn., Oct. 2 - Western Energy Services Corp. said it closed a previously announced non-brokered private placement of units on Sept. 28, raising a total of C$6 million. The deal priced on Aug. 31.
The company sold 60,000,000 units at C$0.10 per unit. Each unit consists of one common share and one half-share warrant. Each whole non-transferable warrant is exercisable at C$0.16 for 18 months.
The securities will have a four-month hold period.
Proceeds will be used to pay down debt and for selected capital expenditures.
Based in Calgary, Alta., Western Energy provides services to the oilfields sector.
| Issuer: | Western Energy Services Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6 million
|
| Units: | 60,000,000
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.16
|
| Warrant expiration: | 18 months
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 28
|
| Agent: | Non-brokered
|
| Stock symbol: | TSX Venture: WSV
|
| Stock price: | C$0.10 at close Aug. 31
|
© 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.
