By Laura Lutz
Washington, Dec. 20 - Blackpool Exploration Ltd. intends to conduct a private placement of units for up to C$1.5 million and at least C$500,000.
The company plans to sell up to 6 million units of one flow-through share and one half-share warrant at C$0.25 per unit. Each whole warrant will be exercisable for one non flow-through share at C$0.40 for two years.
Settlement is expected on Dec. 28.
The offering will be non-brokered.
Blackpool is a Calgary, Alta.-based oil and natural gas company.
| Issuer: | Blackpool Exploration Ltd.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$1.5 million (maximum); C$500,000 (minimum)
|
| Units: | 6 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 28
|
| Stock symbol: | TSX Venture: BPX.A
|
| Stock price: | C$0.22 at close Dec. 20
|
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