Non-brokered offering funds oil and gas exploration and development
By Devika Patel
Knoxville, Tenn., June 17 - Bayshore Petroleum Corp. said it will conduct a C$1.5 million non-brokered private placement of units.
The company will sell up to 8,571,429 units of one common share and one warrant at C$0.175 apiece to Excel Team Holdings Ltd. or its designees. Each three-year warrant will be exercisable at C$0.20. The strike price is a 150% premium to C$0.08, the June 16 closing share price.
Proceeds will be used for oil and gas exploration and development and service activities, including unconventional gas opportunities in China, as well as general corporate purposes.
The Calgary, Alta., company is involved in establishing, exploring and exploiting unconventional gas in China.
Issuer: | Bayshore Petroleum Corp.
|
Issue: | Units of one common share and one warrant
|
Amount: | C$1.5 million
|
Units: | 8,571,429
|
Price: | C$0.175
|
Warrants: | One warrant per unit
|
Warrant expiration: | Three years
|
Warrant strike price: | C$0.20
|
Agent: | Non-brokered
|
Investor: | Excel Team Holdings Ltd.
|
Pricing date: | June 17
|
Stock symbol: | TSX Venture: BSH
|
Stock price: | C$0.08 at close June 16
|
Market capitalization: | C$895,700
|
© 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.