- Advantagewon Oil (AOC) has closed the initial tranche of its non-brokered private placement financing
- The offering consists of 3,968,333 units priced at of $0.30 per unit for gross proceeds of $1,190,500
- Advantagewon intends to use the net proceeds for working capital and general corporate purposes
- AOC intends to close a second tranche of the offering on or before June 25, 2021
- Advantagewon announced that it had settled a combined total of $1,127,522 in debt via the issuance of common shares
- Advantagewon Oil Corp. is a Canadian-based energy company
- Advantagewon Oil Corp. (AOC) is up 5.88 per cent, trading at C$0.36 per share at 11:50 am ET
Advantagewon Oil (AOC) has closed the initial tranche of its non-brokered private placement financing.
The offering consists of 3,968,333 units priced at of $0.30 per unit for gross proceeds of $1,190,500.
Each unit is comprised of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one share at a price of $0.75.
Advantagewon intends to use the net proceeds for working capital and general corporate purposes.
The corporation paid finder’s fees to Canaccord Genuity Corp. and Research Capital Corp. in cash and in compensation warrants. Canaccord Genuity Corp. received $25,000 in cash and 83,333 compensation warrants. Research Capital Corp. received $80,450 in cash and 280,167 compensation warrants.
AOC intends to close a second tranche of the offering on or before June 25, 2021.
All securities issued in connection with the offering are subject to a four-month hold period under applicable securities laws.
Advantagewon announced that it had settled a combined total of $1,127,522 in debt via the issuance of a combined total of 3,441,741 common shares. The debt was owed to consultants and various creditors.
Advantagewon Oil Corp. is a Canadian-based energy company.
Advantagewon Oil Corp. (AOC) is up 5.88 per cent, trading at C$0.36 per share at 11:50 am ET.
