By Devika Patel
Knoxville, Tenn., Dec. 23 - Traxion Energy Inc. said it has completed a C$4.01 million oversubscribed non-brokered private placement of stock.
The deal priced for C$3.75 million on Oct. 26.
The company sold 53.5 million common shares at C$0.075 apiece.
Proceeds will be used to fund the company's land acquisition program, exploration efforts and for general corporate purposes.
Calgary, Alta.-based Traxion Energy is a junior oil and gas company.
| Issuer: | Traxion Energy Inc.
|
| Issue: | Common shares
|
| Amount: | C$4,012,500
|
| Shares: | 53.5 million
|
| Price: | C$0.075
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 26
|
| Settlement date: | Dec. 23
|
| Stock symbol: | TSX Venture: TXE
|
| Stock price: | C$0.05 at close Oct. 26
|
| Market capitalization: | C$1.92 million
|
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