By Sheri Kasprzak
New York, Dec. 28 - Richards Oil & Gas Ltd. negotiated the terms of a C$4 million private placement.
The offering includes up to 4 million shares and is expected to close Dec. 29.
Octagon Capital Corp. is the placement agent.
Proceeds will be used for coal bed methane exploration on the company's properties in western Canada.
Calgary, Alta.-based Richards is an oil, natural gas and coal bed methane exploration and development company.
| Issuer: | Richards Oil & Gas Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$4 million
|
| Shares: | 4 million
|
| Price: | C$1.00
|
| Warrants: | No
|
| Placement agent: | Octagon Capital Corp.
|
| Pricing date: | Dec. 27
|
| Settlement date: | Dec. 29
|
| Stock symbol: | TSX Venture: RIX
|
| Stock price: | C$0.95 at close Dec. 27
|
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