Proceeds from non-brokered offering to fund general working capital
By Devika Patel
Knoxville, Tenn., June 5 – Caiterra International Energy Corp. said it arranged a C$2 million non-brokered private placement of units on Wednesday.
The company will sell 20 million units of one common share and one warrant at C$0.10 per unit.
Each warrant is exercisable at C$0.15 for two years. The strike price reflects a 50% premium to the June 3 closing share price of C$0.10.
Proceeds will be used for general working capital.
The oil and gas exploration and development company is based in Vancouver, B.C.
Issuer: | Caiterra International Energy Corp.
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Issue: | Units of one common share and one warrant
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Amount: | C$2 million
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Units: | 20 million
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Price: | C$0.10
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.15
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Agent: | Non-brokered
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Pricing date: | June 4
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Stock symbol: | TSX Venture: CTI
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Stock price: | C$0.10 at close June 3
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Market capitalization: | C$6.73 million
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