By Laura Lutz
Washington, Feb. 8 - CIC Energy Corp. arranged a private placement of shares for C$25 million.
The company plans to sell 1,666,667 common shares at C$15.00 each through a syndicate of underwriters led by Westwind Partners Inc.
The underwriters have a greenshoe for up to 533,333 shares, for additional proceeds of up to C$8 million.
Proceeds will be used for general corporate purposes.
Settlement is expected on Feb. 23.
CIC is a coal exploration and development company based in Road Town, Tortola, British Virgin Islands.
| Issuer: | CIC Energy Corp.
|
| Issue: | Shares
|
| Amount: | C$25 million
|
| Shares: | 1,666,667
|
| Greenshoe: | For 5,333,333 shares
|
| Price: | C$15.00
|
| Warrants: | No
|
| Underwriter: | Westwind Partners Inc. (lead)
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 23
|
| Stock symbol: | Toronto: ELC
|
| Stock price: | C$16.15 at close Feb. 7
|
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