Offering of flow-through stock was brokered by agent MGI Securities
By Devika Patel
Knoxville, Tenn., April 26 - Contact Exploration Inc. said it settled a C$1.33 million private placement of stock. MGI Securities Inc. was the agent for the deal, which priced for C$2 million on March 14.
The company sold 10,254,000 flow-through common shares at C$0.13 each on a best-efforts basis. The price per share represents a 30% premium to the March 13 closing share price of C$0.10.
Proceeds will be used for exploration.
Contact is an oil and gas exploration company based in Calgary, Alta.
| Issuer: | Contact Exploration Inc.
|
| Issue: | Flow-through common stock
|
| Amount: | C$1,333,020
|
| Shares: | 10,254,000
|
| Price: | C$0.13
|
| Warrants: | No
|
| Agent: | MGI Securities Inc.
|
| Pricing date: | March 14
|
| Settlement date: | April 25
|
| Stock symbol: | TSX Venture: CEX
|
| Stock price: | C$0.10 at close March 13
|
| Market capitalization: | C$14.67 million
|
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