Oilsands Quest Closes Upsized Non-Brokered Private Placement
Oilsands Quest has closed its previously-announced non-brokered private placement. The accredited institutional investors upsized their subscriptions from the previously announced 8.57 million shares at $1.05 per share to 9.71 million shares at the same price per share for gross proceeds of US $10.2 million to the Company.
The proceeds of the Offering will be used for funding the reservoir testing program at Axe Lake and general corporate purposes. Specific allocations of the proceeds have not been made at this time.
- Oilsands Quest Granted Approval for Eagles Nest Sale (Feb 23)
- Oilsands Quest to Sell Eagles Nest Asset (Feb 03)
- Buyer Requests Extension for Oilsands Quest's Wallace Creek Assets (Nov 22)