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Kodiak Oil & Gas completes CDN $9.8 million private placement
Kodiak Oil & Gas completes CDN $9.8 million private placement.
About this update from Ko Gold, Inc.
[{"type":"text","content":"\n\n\n\n\nDENVER, Dec. 13 /CNW/ - Kodiak Oil & Gas Corp. (TSX Venture: KOG;\nGGF.PK) today announced the sale through a private placement of 7 million\nshares of common stock to a group of U.S. and Canadian institutional\ninvestors. The Company raised a total of CDN $9.8 million at a share price of\nCDN$1.40. The private placement was non-brokered.\nProceeds from the financing will help fund Kodiak's share of its 2006\nexploration and drilling programs in the Green River Basin in Wyoming and the\nWilliston Basin of Eastern Montana and Western North Dakota. Funds will also\nbe used for working capital and general corporate purposes.\nThe financing does not result in a change in control of the Company. The\nshares are subject to a four-month hold period.\nThe Shares have not been and will not be registered under the United\nStates Securities Act of 1933, as amended, and may not be offered or sold in\nthe United States unless such securities are registered under the Securities\nAct or an exemption from such registration requirements is available.\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 \n\"forward-looking\" statements, usually containing the words \"believe,\"\n\"estimate,\" \"project,\" \"expect\" or similar expressions. These statements are\nmade pursuant to the safe harbor provisions of the Private Securities\nLitigation Reform Act of 1995. Forward-looking statements inherently involve\nrisks and uncertainties that could cause actual results to differ materially\nfrom the forward-looking statements. Factors that could cause or contribute to\nsuch differences include, but are not limited to, fluctuations in the prices\nof oil and gas, uncertainties inherent in estimating quantities of oil and gas\nreserves and projecting future rates of production and timing of development\nactivities, competit...