SASKATOON, Saskatchewan, Nov 16, 2018 (GLOBE NEWSWIRE via COMTEX) — SASKATOON, Saskatchewan, Nov. 16, 2018 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. ("Saturn" or the "Company") (tsx.v:SOIL) (SMK) is pleased to announce that it has completed the previously announced (see news release dated October 24, 2018) brokered private placement of common share units (the "Units") and flow-through common shares (the "Flow-Through Shares"). The private placement consisted of 8,333,333 Units at a price of $0.24 per Unit and 8,333,333 Flow-Through Shares at a price of $0.24 per Flow-Through Share, for total gross proceeds of $4.0 million (the "Private Placement"). Each Unit consists of one common share (a "Common Share") of the Company and one-half of a common share purchase warrant (a "Warrant") exercisable into one Common Share of the Company at a price of $0.30 per Warrant for a period of 24 months from the date hereof. The Private Placement was brokered by Canaccord Genuity Corp. and Gravitas Securities Inc. (together "the Agents"). The Agents were paid a commission comprised of a cash fee equal to 7.3% of the gross proceeds plus the reimbursement of expenses and issued 7.3% of the total issue in Agents’ Unit option warrants ("Agents’ […]
