By Sheri Kasprzak
Atlanta, Feb. 23 - The Buffalo Oil Corp. said it increased the size of the over-allotment option on its previously announced C$4.5 million private placement.
The greenshoe will now allow for 1,166,667 common shares, up from 583,333 common shares.
The full offering includes 2,916,667 common shares at C$1.20 each and 689,656 flow-through shares at C$1.45 each. If the greenshoe is fully exercised, the company will sell a total of 4,772,990 shares for C$5.9 million.
The offering is expected to close March 4.
Based in Calgary, Alta., Buffalo is an oil and gas exploration, development and production company. The proceeds from the offering will be used for its capital expenditure program and for acquisition opportunities.
| Issuer: | The Buffalo Oil Corp.
|
| Issue: | Common shares and flow-through shares
|
| Amount: | C$4.5 million
|
| Greeenshoe: | For 1,166,667 common shares
|
| Placement agent: | Northern Securities Inc.
|
| Pricing date: | Feb. 11
|
| Amended: | Feb. 23
|
| Settlement date: | March 4
|
| Stock price: | C$1.27 at close Feb. 23
|
|
|
| Common shares
|
| Shares: | 2,916,667
|
| Price: | C$1.20
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 689,656
|
| Price: | C$1.45
|
| Warrants: | No
|
|
|
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