Calgary-Americas Petrogas Inc. has closed its previously announced equity financing by way of a private placement on a bought-deal basis by completing the sale of 12,345,700 common shares at a price of C$0.81 per share, for gross proceeds of approximately C$10 million. It also closed an equity financing by way of a private placement on a non-brokered basis of 7,407,414 common shares at a price of C$0.81 per share, for gross proceeds of approximately C$6 million. After the closing of the offerings, the corporation has approximately 123.9 million common shares issued and outstanding. Net proceeds received from the offerings will be used for the ongoing exploration and development of its Argentinean oil & gas properties, for the advancement of the Bayóvar potash project by the corporation’s subsidiary, GrowMax Agri Corp., and for general corporate purposes.
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