Convertible unsecured debentures sold in units with two-year warrants
By Devika Patel
Knoxville, Tenn., June 7 - Questfire Energy Corp. said it will raise between C$1 million and C$3 million in a private placement of units.
The company will sell units of one C$5,000.00 12% convertible unsecured debenture and 5,000 warrants.
The debentures are due June 30, 2014 and convert into class A common shares at a conversion price of C$0.50 per share. The conversion price represents a 19.05% premium to the closing share price of C$0.42 on June 6.
The two-year warrants are exercisable at C$0.75, a 78.57% premium to the June 6 closing price.
Settlement is expected on June 28.
The oil and gas exploration, development and production company is based in Calgary, Alta.
| Issuer: | Questfire Energy Corp.
|
| Issue: | Units of C$5,000.00 of convertible unsecured debentures and 5,000 warrants
|
| Amount: | C$1 million (minimum), C$3 million (maximum)
|
| Price: | C$5,000.00
|
| Maturity: | June 30, 2014
|
| Coupon: | 12%
|
| Conversion price: | C$0.50
|
| Conversion premium: | 19.05%
|
| Warrants: | 5,000 warrants per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Pricing date: | June 7
|
| Settlement date: | June 28
|
| Stock symbol: | TSX Venture: Q.A
|
| Stock price: | C$0.42 at close June 6
|
| Market capitalization: | C$5.38 million
|
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