Dilution bought deal basis, private placement of 3,937,000 common shares of the Company (the “Common Shares”) at a price of C$2.54 per Common Share for aggregate gross proceeds to the Company of approximately C$10 million (the “Offering”). The Offering is being led by Research Capital Corporation as the sole underwriter and sole bookrunner (the “Underwriter”).
The net proceeds from the Offering will be used to fund the Company’s pre-production operations at the Wassana field and its Wassana infill drilling programme and for general corporate purposes.