Deal to finance Bayovar potash project; shares sold at 9.09% discount
By Devika Patel
Knoxville, Tenn., Nov. 1 - Americas Petrogas Inc. said it plans a non-brokered private placement of stock.
The company will sell 16 million common shares at C$1.00 apiece for C$16 million.
The price per share represents a 9.09% discount to C$1.10, the Oct. 29 closing share price.
Settlement is expected Nov. 5.
Proceeds will be used for exploration and development of the company's Argentine oil and gas properties, to advance the Bayovar potash project and for general working capital.
Americas Petrogas is a Calgary, Alta.-based oil and gas exploration and development company.
| Issuer: | Americas Petrogas Inc.
|
| Issue: | Common shares
|
| Amount: | C$16 million
|
| Shares: | 16 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 5
|
| Stock symbol: | TSX Venture: BOE
|
| Stock price: | C$1.05 at close Nov. 1
|
| Market capitalization: | C$131.31 million
|
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