Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/contact-exploration-reports-closing-of-private-pla.shtmlContact Exploration reports closing of private placement
Contact Exploration Inc. has closed its previously announced non-brokered private placement (the "Private Placement") of 20,000,000 common shares in the capital of
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Contact Exploration Inc. has closed its previously announced non-brokered private placement (the "Private Placement") of 20,000,000 common shares in the capital of the Company, issued on a "flow-through" basis pursuant to the Income Tax Act (Canada). The Flow-Through Shares were issued to a private investor at a price of $0.15 per share for aggregate proceeds of $3,000,000.
Following the Private Placement, the private investor now holds 29,000,000 common shares of Contact, representing 13.52% of the issued and outstanding common shares of the Company.
