Point Loma Resources raises C$3.45mln in oversubscribed offering

As reported, the funds are planned to be used to drill horizontal wells and recompletion activities
Point Loma Resources raises C$3.45mln in oversubscribed offering
Pulse Oil plans to drill horizontal wells with the cash

Point Loma Resources Ltd (CVE:PLX) says it's raised around C$3.45mln after closing its offering of flow-through shares.

Notably this includes more than 1.36 mln shares, which were issued after the full exercise of the overallotment option by the agent Mackie.

As previously reported, the funds are planned to be used to drill horizontal wells and recompletion activities targeting oil in the Mannville, Nordegg or Banff shale formations as well as for exploration expenses.

Mackie Research acted as the agent and offered the shares at 33 cents a pop.

It was granted the option to purchase up to a further 15% of the number of flow-through shares sold to cover overallotments.

View full PLX profile View Profile

Point Loma Resources Timeline

Related Articles

oil wells
February 01 2018
Hutson says investors like DGO because in a sector littered with over-optimism and disappointment it has stuck to the plan outlined when it listed
oil and gas operations
February 05 2018
The better-than-expected estimate for Ntorya is obviously good news, increasing the project's size by around 40% from the operator’s previous estimate.
April 16 2018
"Our annual independent updated reserves report reinforces the potential of our quality and well positioned asset base in China,” said chairman Randeep Grewal

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © personabelovo.ru, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated.