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Kodiak Oil & Gas announces completion of US $40 million equity private placement
Kodiak Oil & Gas announces completion of US $40 million equity private placement.
About this update from Ko Gold, Inc.
[{"type":"text","content":"\n\n\n\n\nDENVER, CO, March 8 /CNW/ - Kodiak Oil & Gas Corp. (TSX Venture: KOG;\nGGF.PK) today announced the sale through a private placement of 19,514,268\nshares of its common stock to a group of accredited investors at a price of \nUS $2.05 (CDN $2.33) per share. Proceeds to the Company, net of fees and\nestimated expenses, were approximately US$37,000,000. There were no warrants\nor other financial instruments attached to this placement of common shares.\nThe financing does not result in a change in control of the Company. The\nshares are subject to a four-month hold period.\nProceeds will be used for general corporate purposes including the\nexploration and development of Kodiak's oil and gas properties in the Greater\nGreen River Basin in southwestern Wyoming, including the Company's Pacific Rim\nproperties in the Vermillion Basin, and the Williston Basin of North Dakota\nand Montana.\nSubsequent to the closing of the private placement, Kodiak will have\napproximately 74,061,426 common shares outstanding.\nThis announcement does not constitute an offer to sell, or the\nsolicitation of an offer to buy, any securities and shall not constitute an\noffer, solicitation or sale in any jurisdiction in which such offer,\nsolicitation or sale would be unlawful. The common stock was sold only to\naccredited investors in the United States pursuant to the exemption provided\nby Regulation D promulgated under the Securities Act of 1933 and in Canada\npursuant to the exemption in N145.106 Section 2.3. The shares sold in this\nprivate placement have not been registered under the Securities Act of 1933\nand may not be offered or sold in the United States absent registration or an\napplicable exemption from registration requirements.\n\nAbout Kodiak Oil & Gas Corp.\n---------------------------\nKodiak Oil & Gas, headquartered in Denver, is an independent energy\nexploration and development company focused on exploring, developing and\nproducing oil and natural gas in the Williston and Greater Green River Basins\nin the U.S. Rocky Mountains. The common shares of the Company are listed for\ntrading on the TSX Venture Exchange under the symbol \"KOG\" and the U.S. symbol\n\"KOGGF.\"\n\nForward-Looking Statements\n--------------------------\nThis press release includes statements that may constitute \"forward-\nlooking\" statements...