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Manitok Energy closes the final tranche of its private placement


Published Feb 17, 2016
Manitok Energy Inc.

Manitok Energy Inc. has closed the final tranche of its previously announced concurrent brokered and non-brokered private placement offering of common shares (the "Common Shares") in the capital of Manitok issued at a price of $0.13 per Common Share and Common Shares ("Flow-through Shares" and together with the Common Shares, the "Offered Shares") issued on a "flow-through" basis in respect of Canadian exploration expense under the Income Tax Act (Canada) at a price of $0.15 per Flow-through Share (the "Offering").

In connection with the closing of its final tranche of the Offering, Manitok issued 500,000 Common Shares for aggregate gross proceeds to Manitok in the amount of $65,000. After the closing of all tranches under the Offering, Manitok issued an aggregate of 39,740,462 Common Shares and 36,249,500 Flow-through Shares resulting in aggregate combined gross proceeds to Manitok of approximately $10.6 million.

Tags: Manitok Energy Inc.




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