Non-brokered offering expected to fund exploration, corporate purposes
By Devika Patel
Knoxville, Tenn., Oct. 30 – Caiterra International Energy Corp. said it will conduct a C$5 million non-brokered private placement of stock.
The company will sell 5 million flow-through common shares at C$0.30 apiece and 14 million common shares at C$0.25 apiece. The prices per share are 27.28% and 13.64% premiums, respectively, to C$0.22, the Oct. 29 closing share price.
Proceeds will be used for exploration and general corporate purposes.
The oil and gas exploration and development company is based in Vancouver, B.C.
Issuer: | Caiterra International Energy Corp.
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Issue: | Flow-through common shares, common shares
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Amount: | C$5 million
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Warrants: | No
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Agent: | Non-brokered
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Pricing date: | Oct. 30
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Stock symbol: | TSX Venture: CTI
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Stock price: | C$0.22 at close Oct. 29
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Market capitalization: | C$14.8 million
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Flow-through stock
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Amount: | C$1.5 million
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Shares: | 5 million
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Price: | C$0.30
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Common stock
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Amount: | C$3.5 million
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Shares: | 14 million
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Price: | C$0.25
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