Saturn Minerals Inc. (TSXV: SMI.V) closed a nonbrokered private placement of 5,560,000 units, at 12 cents each, for CA$678,000 in proceeds, the company said Feb. 7.
Proceeds will fund Saturn Mineral’s working capital, the company said.
Units in the placement consist of one common share and half of a share purchase warrant, the company said, noting that whole warrants allow one additional share to be purchased. These additional shares are exercisable for 24 months from the issue date at 15 cents each, the company added.
Additionally, Saturn Minerals detailed a separate, nonbrokered flow-through private placement, the company said. Here, 5,000,000 units, at 15 cents each, consist of one flow-through common share and half of a non-flow-through share purchase warrant, the company added.
Whole warrants will purchase one non-flow-through share that is exercisable for 24 months, at 20 cents, from the issue date, the company said.
Saturn Minerals Inc. is a Canadian junior energy company that owns 370,000 acres of Saskatchewan oil and natural gas rights. It is based in Vancouver.
Recommended Reading
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-26 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
Exxon Mobil, Chevron See Profits Fall in 1Q Earnings
2024-04-26 - Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.
Marathon Oil Declares 1Q Dividend
2024-04-26 - Marathon Oil’s first quarter 2024 dividend is payable on June 10.
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.