Deal to sell between 16 million and 20 million common shares at C$0.25
By Devika Patel
Knoxville, Tenn., Sept. 24 – Oakmont Minerals Corp. said it will raise between C$4 million and C$5 million in a private placement of stock on a commercially reasonable efforts basis. Wolverton Securities Ltd. is the agent, but up to C$1 million of the offering may be completed on a non-brokered basis.
The company will sell between 16 million and 20 million common shares at C$0.25 per share, a 212.5% premium to the Sept. 23 closing share price of C$0.08.
Proceeds will be used for manufacturing costs of additional buses, engineering and design, sales and marketing and general and administrative expenses.
The natural resource company is based in Vancouver, B.C.
| Issuer: | Oakmont Minerals Corp.
|
| Issue: | Common stock
|
| Amount: | C$4 million (minimum), C$5 million (maximum)
|
| Shares: | 16 million (minimum), 20 million (maximum)
|
| Price: | C$0.25
|
| Warrants: | No
|
| Agent: | Wolverton Securities Ltd., non-brokered (for up to C$1 million)
|
| Pricing date: | Sept. 24
|
| Stock symbol: | TSX Venture: OMK
|
| Stock price: | C$0.08 at close Sept. 23
|
| Market capitalization: | C$918,900
|
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