By Sheri Kasprzak
New York, July 5 - TG World Energy Corp. said it has increased to C$2,499,700 its previously announced C$2 million private placement.
The company now plans to sell up to 3,571,000 units at C$0.70 each.
The units include one share and one half-share warrant. The whole warrants provide for an additional share at C$0.85 each for one year and C$1 each in the second year.
Canaccord Capital Corp. is the placement agent.
Based in Calgary, Alta., TG World is an oil and natural gas exploration company. The proceeds will be used for working capital and expenses related to the company's interests in the Tenere concession in Niger.
| Issuer: | TG World Energy Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2,499,700
|
| Units: | 3,571,000
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.85 for the first year; C$1 for the second year
|
| Placement agent: | Canaccord Capital Corp.
|
| Pricing date: | July 1
|
| Amended: | July 5
|
| Stock price: | C$0.83 at close July 1
|
| Stock price: | C$0.83 at close July 5
|
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