By Devika Patel
Knoxville, Tenn., Feb. 9 - Blugrass Energy Inc. said it has negotiated a C$5 million private placement of units.
The company will sell 10 million units at C$0.50 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.75 for two years.
The oil and gas company is based in Arvada, Colo.
| Issuer: | Blugrass Energy Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Units: | 10 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Pricing date: | Feb. 9
|
| Stock symbol: | OTCBB: BLUG
|
| Stock price: | $0.45 at close Feb. 8
|
| Market capitalization: | $22.5 million
|
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