Mooncor Oil & Gas Corp. (TSXV: MOO.V) and Pinetree Capital Ltd. entered into a securities purchase agreement, Mooncor said March 26.
Pursuant to the agreement’s terms, Pinetree agreed to subscribe for 10 million of Mooncor’s common units priced at five cents each, Mooncor said, adding that the units will be comprised of one common share of Mooncor and one share purchase warrant.
The share purchase warrants will allow one common share to be bought at 10 cents for two years from the offer’s date of issuance, the company added.
Mooncor agreed to subscribe for 819,672 common shares of Pinetree’s capital, priced at 61 cents each, the company said.
The transaction is scheduled to close April 1, the company said.
Calgary, Alberta-based Mooncor Oil & Gas Corp. explores and develops oil and natural gas properties across Canada.
Recommended Reading
Analyst Questions Kimmeridge’s Character, Ben Dell Responds
2024-05-02 - The analyst said that “they don’t seem to be particularly good actors.” Ben Dell, Kimmeridge Energy Partners managing partner, told Hart Energy that “our reputation is unparalleled.”
Tellurian Reports Driftwood LNG Progress Amid Low NatGas Production
2024-05-02 - Tellurian’s Driftwood LNG received an extension through 2029 with authorization from the Federal Energy Regulatory Commission and the U.S. Army Corps of Engineers.
Zeta Energy Appoints Michael Everett as COO
2024-05-02 - Prior to joining Zeta Energy, a lithium-sulfur battery developer, Michael Everett previously served as president and COO at Advanced Battery Concepts.
Shell Launches $3.5 Billion Share Buyback Program
2024-05-02 - Shell, which posted first-quarter adjusted earnings of $7.7 billion, will cancel all of the shares it buys.
Supply Disruptions Ahead as Canadian Rail Workers Vote for Strike
2024-05-01 - The union, representing more than 9,000 employees at Canadian National Railway and Canadian Pacific Kansas City, announced that 95% of its members approved of a strike, which could happen as early as May 22.