Non-brokered offering is slated to finance exploration and development
By Devika Patel
Knoxville, Tenn., Aug. 29 - First Mountain Exploration Ltd. said it will conduct a C$1.8 million non-brokered private placement of stock.
The company will sell 10 million flow-through common shares at C$0.10 apiece and 10 million common shares at C$0.08 apiece. The prices per share are an 11.11% premium and 11.11% discount to C$0.09, the Aug. 28 closing share price.
Settlement is expected Sept. 30.
Proceeds will be used exploration and development, including development drilling on the Atlee Buffalo Assets.
The oil and natural gas explorer is based in Calgary, Alta.
| Issuer: | First Mountain Exploration Ltd.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$1.8 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 29
|
| Settlement date: | Sept. 30
|
| Stock symbol: | TSX Venture: FMX
|
| Stock price: | C$0.09 at close Aug. 28
|
| Market capitalization: | C$2.95 million
|
|
|
| Flow-through stock
|
| Amount: | C$1 million
|
| Shares: | 10 million
|
| Price: | C$0.10
|
|
|
| Common stock
|
| Amount: | C$800,000
|
| Shares: | 10 million
|
| Price: | C$0.08
|
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