- Razor Energy has announced subscription agreements and a proposed private placement for gross proceeds of $2.2M
- AIMCo will to agree to purchase 2,200,000 shares for a subscription price of $0.84 per share for aggregate proceeds of $1,848,000
- Management team members will collectively subscribe for 50,000 shares for proceeds of $42,000
- Razor is also planning to offer up to an additional 369,047 shares for additional proceeds of up to $310,000
- The private placement is expected to close in October 2021
- Proceeds from the private placement will be used to continue its well reactivation program and for general corporate purposes
- Razor is a junior oil and gas development and production company focused on producing oil and gas from properties primarily in Alberta
- Razor Energy Corp. (RZE) opened trading at C$0.87 per share
Razor Energy (RZE) has announced subscription agreements and a proposed private placement for gross proceeds of $2.2M.
Alberta Investment Management Corporation (AIMCo) will purchase 2,200,000 shares for a subscription price of $0.84 per share for aggregate proceeds of $1,848,000. Management team members will collectively subscribe for 50,000 shares for proceeds of $42,000.
Razor is also planning to offer up to an additional 369,047 shares for additional proceeds of up to $310,000.
There are no finder’s fees or commission on the AIMCo Subscription or Management Subscription, but Razor may pay certain finder’s fees on the private placement.
Proceeds from the private placement will be used to continue its well reactivation program and for general corporate purposes.
The private placement is expected to close in October 2021, and subject to approval by the TSX Venture Exchange.
Razor is a junior oil and gas development and production company focused on producing oil and gas from properties primarily in Alberta.
Razor Energy Corp. (RZE) opened trading at C$0.87 per share.