By Devika Patel
Knoxville, Tenn., Nov. 29 - Buffalo Resources Corp. said it will raise C$2 million in a private placement of shares.
The company will sell 1,515,152 flow-through common shares at C$1.32 apiece on a bought-deal basis.
The deal is being conducted by a syndicate of underwriters led by Acumen Capital Finance Partners Ltd. and including Research Capital Corp. and Evergreen Capital Partners Inc. The underwriters have a greenshoe for an additional 757,576 shares, or C$1 million.
Proceeds will be used to fund Buffalo's capital expenditure program. The deal is expected to settle on Dec. 19.
Calgary, Alta.-based Buffalo is an emerging junior oil and gas company engaged in the exploration, development and production of oil and gas reserves in Alberta.
| Issuer: | Buffalo Resources Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$2 million
|
| Shares: | 1,515,152
|
| Greenshoe: | 757,576 shares, or C$1 million
|
| Price: | C$1.32
|
| Warrants: | No
|
| Agents: | Acumen Capital Finance Partners Ltd. (lead), Research Capital Corp., Evergreen Capital Partners Inc
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 19
|
| Stock symbol: | TSX Venture: BFR
|
| Stock price: | C$1.10 at close Nov. 28
|
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