TD Securities runs Canada’s Oilsands Quest USD12.9m stock offer

by Zagros on November 8, 2020

M2 Communications    ”EquityBites ”
8 November 2020  -  TD Securities  has helped the  USD12.9m  ( EUR9.2m ) common and flow-through shares placement of  Oilsands Quest  (AMEX:BQI), the Canadian oil and gas company said Friday after the close of the transaction.

The company issued  20.8m  common shares at  USD0.45  apiece, worth some  USD9.4m , as well as  7.1m  flow-through stock at  CAD0.513  ( USD0.512 / EUR0.367 ) for gross proceeds of  CAD3.7m .

The size was raised from the original  USD12.2m  offering and the money will be spent on winter drilling at up to 10 wells in  Wallace Creek  and for general corporate purposes,  Oilsands Quest  added.

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