Non-brokered offering funds acquisition of gas reserves, lands, leases
By Devika Patel
Knoxville, Tenn., Feb. 18 - Antler Hill Oil & Gas Ltd. said it plans a C$1.2 million non-brokered private placement of units as part of its qualifying transaction with Silver Peak Industries Ltd.
The company will sell 12 million units of one common share and a half-share warrant at C$0.10 per unit. Each whole warrant is exercisable at C$0.20 for two years.
Proceeds will be used to acquire certain gas reserves, lands, leases and interests held by Silver Peak, which comprises the qualifying transaction, to acquire and install a generator to produce electricity and for general working capital requirements.
The oil and gas company is based in Calgary, Alta.
| Issuer: | Antler Hill Oil & Gas Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 12 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 18
|
| Stock symbol: | TSX Venture: AHO.H
|
| Stock price: | C$0.01 at close Feb. 17
|
| Market capitalization: | C$45,000
|
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