By Sheri Kasprzak
New York, Jan. 13 - The Buffalo Oil Corp. said it intends to raise C$6 million in a private placement.
The offering includes 2,777,778 non flow-through shares at C$1.80 each and 454,546 flow-through shares at C$2.20 each.
Northern Securities Inc. is the placement agent for the offering.
The flow-through portion of the deal is slated to close on Jan. 30 and the non flow-through portion on Feb. 14.
Proceeds will be used for the company's 2006 capital expenditure program, which was increased to C$18 million from C$12 million.
Calgary, Alta-based Buffalo is an oil and natural gas exploration company.
Issuer: | The Buffalo Oil Corp.
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Issue: | Flow-through and non flow-through shares
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Amount: | C$6 million
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Placement agent: | Northern Securities Inc.
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Pricing date: | Jan. 13
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Settlement date: | Jan. 30 for flow-through shares; Feb. 14 for non flow-through shares
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Stock symbol: | TSX Venture: BFO
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Stock price: | C$1.91 at close Jan. 13
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Flow-through shares
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Shares: | 454,546
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Price: | C$2.20
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Warrants: | No
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Non flow-through shares
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Shares: | 2,777,778
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Price: | C$1.80
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Warrants: | No
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