By Devika Patel
Knoxville, Tenn., June 26 - Nexstar Energy Ltd. said it raised C$616,522.50 in the initial tranche of a C$1 million private placement of stock. The deal priced June 10.
The company is selling class A shares at C$0.075 apiece. It sold 8,220,300 shares in this tranche.
Settlement of the second tranche is expected on June 30.
The Calgary, Alta.-based oil and gas company said proceeds will be used for exploration and development of its petroleum properties.
| Issuer: | Nexstar Energy Ltd.
|
| Issue: | Class A stock
|
| Amount: | C$1 million
|
| Price: | C$0.075
|
| Warrants: | No
|
| Pricing date: | June 10
|
| Settlement date: | June 26 (for C$616,522.50), June 30
|
| Stock symbol: | Toronto: NXE.A
|
| Stock price: | C$0.08 at close June 9
|
| Market capitalization: | C$1.86 million
|
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