By Sheri Kasprzak
Atlanta, Dec. 2 - Diaz Resources Ltd. said Thursday it will raise C$1.5 million in a private placement.
The company will issue up to 2 million class A subordinated voting shares on a flow-through basis at C$0.75 each.
GMP Securities Ltd. is the placement agent in the offering, which is expected to close Dec. 15.
Based in Calgary, Alta., Diaz is an oil and gas exploration company and plans to use the proceeds from the financing for capital expenditures.
| Issuer: | Diaz Resources Ltd.
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| Issue: | Flow-through class A subordinated voting shares
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| Amount: | C$1.5 million
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| Shares: | 2 million
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| Price: | C$0.75
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| Warrants: | No
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| Placement agent: | GMP Securities Ltd.
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| Announcement date: | Dec. 2
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| Settlement date: | Dec. 15
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| Stock price: | C$0.59 at close Dec. 1
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