By Devika Patel
Knoxville, Tenn., Dec. 6 - BrazAlta Resources Corp. said it plans a C$5.5 million private placement of shares.
The company will sell 10 million common shares at C$0.55 each.
The deal is being conducted by a syndicate of agents led by FirstEnergy Capital Corp. and including Westwind Partners Inc.
Proceeds will be used for drilling rig equipment, exploration and development programs and general corporate purposes. The deal will settle on Dec. 20.
Calgary, Alta.-based BrazAlta Resources explores, develops and produces oil and gas in the Reconcavo and Sergipe basins of Brazil.
| Issuer: | BrazAlta Resources Corp.
|
| Issue: | Common shares
|
| Amount: | C$5.5 million
|
| Shares: | 10 million
|
| Price: | C$0.55
|
| Warrants: | No
|
| Agents: | FirstEnergy Capital Corp. (lead), Westwind Partners Inc.
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 20
|
| Stock symbol: | TSX Venture: BRX
|
| Stock price: | C$0.60 at close Dec. 5
|
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