- Altima Resources (ARH) has closed the first tranche of its equity financing for gross proceeds of $305,000
- Under the first tranche, the company issued 6,100,000 units for $0.05 per unit
- Proceeds from the financing will be used for development of the company’s oil and gas operations and general working capital
- Altima Resources (ARH) is a junior energy company engaged in the exploration and development of petroleum and natural gas in Canada
- Altima Resources Ltd. (ARH) opened trading at C$0.045 per share
Altima Resources (ARH) has closed the first tranche of its previously announced equity financing for gross proceeds of $305,000.
Under the first tranche, the company issued 6,100,000 units for $0.05 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a period of one year.
Proceeds from the financing will be used for development of the company’s oil and gas operations and general working capital.
A total of $7,500 cash and 150,000 warrants were issued in finders’ fees in connection with this first tranche.
The company anticipates closing the balance of this financing shortly.
All securities issued will be subject to a statutory four-month hold period expiring on January 1, 2023.
Altima Resources (ARH) is a junior energy company engaged in the exploration and development of petroleum and natural gas in Canada.
Altima Resources Ltd. (ARH) opened trading at C$0.045 per share.