Granite Oil Corp GXOCF

GXO ANNOUNCES CLOSING OF FINAL TRANCHE OF PRIVATE PLACEMENT

[kijiji]

 

 

Granite Oil Corp. has closed the second and final tranche of its non-brokered private placement of common shares at a price of 52 cents per share, for aggregate gross proceeds of approximately $437,171. Together with the first tranche closing that was previously announced by the company on Dec. 21, 2018, the corporation has received aggregate gross proceeds of approximately $2-million. The proceeds of the offering will be used by Granite for general working capital purposes. The completion of the offering is subject to the company receiving all necessary regulatory approvals, including final approval of the offering from the Toronto Stock Exchange.

[RockLobster1]

I wonder who was included in the deal at 52 cents... they are up 50% on the closing date... not bad! Amazing as people have said that this PP just comes out of nowhere....  this mgmt must be one of the worst in the business....

[giovinco]

PP is subject to the regulatory and final approval from the TSX. Not sure if PP out of nowhere satisfies the approval requirements, especially when more than 75% of the PP was only offered exclusively to the insiders of the company. Shareholders should express their concern to TSX compliance.