By Sheri Kasprzak
Atlanta, March 14 - The Buffalo Oil Corp. said it has wrapped up a private placement of stock for C$5.9 million.
The company sold 4,083,334 common shares at C$1.20 each. A total of 1,166,667 common shares were sold under the greenshoe, exercised by placement agent Northern Securities Inc.
The company also sold 689,656 flow-through shares at C$1.45 each.
The offering was first announced Feb. 11 as a C$4.5 million deal, with an over-allotment option for 583,333 common shares. The greenshoe was increased on Feb. 23.
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 acquisitions.
| Issuer: | The Buffalo Oil Corp.
|
| Issue: | Common shares and flow-through shares
|
| Amount: | C$5.9 million
|
| Placement agent: | Northern Securities Inc.
|
| Pricing date: | Feb. 11
|
| Amended: | Feb. 23
|
| Settlement date: | March 14
|
| Stock price: | C$0.58 at close Feb. 11
|
| Stock price: | C$0.58 at close March 14
|
|
|
| Common shares
|
| Shares: | 4,083,333 (includes greenshoe for 1,166,667 shares)
|
| Price: | C$1.20
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 689,656
|
| Price: | C$1.45
|
| Warrants: | No
|
|
|
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