By Devika Patel
Knoxville, Tenn., June 3 - Simba Energy Inc. said it settled a C$2.19 million non-brokered private placement of units. The deal priced April 14 and was increased to C$1.96 million from C$1 million on May 17.
The company sold 31,222,357 units at C$0.07 apiece. Each unit consists of one common share and one warrant. Each two-year warrant will be exercisable at C$0.15.
Proceeds will be used for general working capital.
Simba Energy is a Vancouver, B.C., oil and gas exploration company.
| Issuer: | Simba Energy Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,185,565
|
| Units: | 31,222,357
|
| Price: | C$0.07
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | April 14
|
| Upsized: | May 17
|
| Settlement date: | June 3
|
| Stock symbol: | TSX Venture: SMB
|
| Stock price: | C$0.09 at close April 14
|
| Market capitalization: | C$3.55 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
