FINANCING / Artemis Energy closes Financing
CALGARY, Feb. 17 /CNW/ - Artemis Energy Limited today announced that a
private placement, composed of both flow through and non-flow through shares,
was successfully closed. This private placement generated $1.1 million in
proceeds and resulted in the issuance of 531,906 shares. The proceeds are to
be allocated toward a five well drilling program in the gas prone Mikwan area
of Alberta.
The issue was made up of 475,906 flow through shares at a price of
$2.10/share, providing $999,403, and 56,000 shares at a price of $2.00/share
providing $112,000. Including the shares issued under this private placement,
Artemis now has 4,167,212 shares outstanding.
The first well in the drilling program has been cased as a horizontal
Glauconite oilwell. |
