Non-brokered deal proceeds used to strengthen corporate balance sheet
By Devika Patel
Knoxville, Tenn., Oct. 9 - Vast Exploration Inc. said it has arranged a C$2 million non-brokered private placement of stock.
The company will sell 13,333,334 common shares at C$0.15 apiece, a 6.25% discount to the Oct. 8 closing share price of C$0.16.
Settlement is expected Nov. 14.
Proceeds will be used to strengthen the corporate balance sheet, to pay outstanding liabilities, to pursue potential acquisition opportunities and for general corporate purposes.
Vast Exploration is an oil and gas exploration and production company based in Calgary, Alta.
| Issuer: | Vast Exploration Inc.
|
| Issue: | Common shares
|
| Amount: | C$2 million
|
| Shares: | 13,333,334
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 9
|
| Settlement date: | Nov. 14
|
| Stock symbol: | TSX Venture: VST
|
| Stock price: | C$0.16 at close Oct. 8
|
| Market capitalization: | C$838,060
|
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