By Devika Patel
Knoxville, Tenn., Feb. 4 - BNP Resources Inc. said it arranged a C$3 million private placement of shares.
The company plans to sell up to 2,222,223 class A common shares at C$1.35 apiece.
Acumen Capital Finance Partners Ltd., the agent, has a greenshoe for an additional 740,741 shares, or C$1 million.
Proceeds will be used for capital expenditures on BNP's oil and gas properties and to supplement working capital.
Settlement is expected on Feb. 20.
BNP is an oil and natural gas exploration and development company based in Calgary, Alta.
| Issuer: | BNP Resources Inc.
|
| Issue: | Class A common shares
|
| Amount: | C$3 million
|
| Greenshoe: | For C$1 million (740,741 shares)
|
| Shares: | 2,222,223
|
| Price: | C$1.35
|
| Warrants: | No
|
| Agent: | Acumen Capital Finance Partners Ltd.
|
| Pricing date: | Feb. 4
|
| Settlement date: | Feb. 20
|
| Stock symbol: | TSX Venture: BNX.A
|
| Stock price: | C$1.50 at close Feb. 1
|
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