United Hunter Oil and Gas Corp. (TSXV: UHO.V) opened a nonbrokered private placement of about 20 million common shares, the company said July 21. The private placement was opened after the consolidation of other shares was completed, United Hunter added.
The shares in the private placement were priced at five cents each, and proceeds totaled CA$1 million, the company said.
The proceeds will support drilling in the Porter Ranch area in San Luis Obispo County, Calif., and the legal expenses for United Hunter’s interest in the Mankin’s Ranch area in California, the company added. They will also support general working capital and debt repayment, the company noted. The company had about 12 million common shares outstanding after the consolidation, United Hunter noted.
Vancouver, British Columbia-based United Hunter Oil & Gas Corp. operates in the United States.
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