By Laura Lutz
Des Moines, Nov. 21 - Buffalo Oil Corp. negotiated a private placement of flow-through and non flow-through shares for C$2,992,000.
The company plans to sell 550,000 non flow-through shares at C$1.80 each and 910,000 flow-through shares at C$2.20 each.
The underwriters, a syndicate led by Research Capital Corp. and including Acumen Capital Partners, have an over-allotment option for 1,666,666 non flow-through shares. The greenshoe may be exercised at any time before closing of the placement, which is expected on Dec. 4.
Most of the placement will be with arm's-length investors, although some officers and directors of the company may participate.
Proceeds will be used for working capital.
Based in Calgary, Alta., Buffalo is an oil and gas company focused on exploration in Alberta and Saskatchewan.
| Issuer: | Buffalo Oil Corp.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$2,992,000
|
| Underwriters: | Research Capital Corp. (lead), Acumen Capital Partners
|
| Pricing date: | Nov. 21
|
| Settlement date: | Dec. 4
|
| Stock symbol: | TSX Venture: BFO
|
| Stock price: | C$1.77 at close Nov. 21
|
|
|
| Flow-through shares
|
| Shares: | 910,000
|
| Price: | C$2.20
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 550,000
|
| Greenshoe: | 1,666,666 shares
|
| Price: | C$1.80
|
| Warrants: | No
|
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