Funds to advance interest in Pleito Creek Field in San Joaquin Basin
By Susanna Moon
Chicago, Sept. 1 - NiMin Energy Corp. said it completed a $4 million brokered private placement of units with Macquarie Bank Ltd. The units consist of one share and one half-share warrant.
NiMin Energy placed 2,758,620 units at $1.45 each, with each whole warrant exercisable at $1.60 for 36 months. The strike price is a 21.21% premium to the company's closing price on Aug. 31.
Byron Capital Markets Ltd. was the agent.
Proceeds will be used to advance the company's interest in the 100% owned and operated Pleito Creek Field in the San Joaquin Basin in Kern County, Calif., and for general corporate purposes.
The independent oil and gas exploitation and production company is based in Carpinteria, Calif.
| Issuer: | NiMin Energy Corp.
|
| Issue: | Common shares
|
| Amount: | $3,999,999
|
| Shares: | 2,758,620
|
| Price: | $1.45
|
| Warrants: | No
|
| Investor: | Macquarie Bank Ltd.
|
| Agent: | Byron Capital Markets Ltd.
|
| Pricing date: | Sept. 1
|
| Stock symbol: | Pink Sheets: NEYYF
|
| Stock price: | $1.32 at close Aug. 31
|
| Market cap: | $87.97 million
|
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