New York, Dec. 31 - Canadian Superior Energy Inc. said Thursday it completed a C$3.44 million private placement, drastically downsized from the original offering of up to C$15 million.
Canadian Superior had also previously reduced the per-share price.
In its final form, the deal is made up of 1.377 million flow-through shares at C$2.50 per share.
Placement agents in the offering include Maison Placements of Canada Inc. and Acumen Capital Finance Partners Ltd.
Based in Calgary, Alta, Canadian Superior is an oil and gas exploration and production company. It plans to use the proceeds for drilling in Western Canada this winter.
| Issuer: | Canadian Superior Energy Inc.
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| Issue: | Flow-through shares
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| Amount: | C$3.4425 million
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| Shares: | 1.377 million
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| Price: | C$2.50
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| Warrants: | No
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| Placement agent: | Maison Placements of Canada Inc. and Acumen Capital Finance Partners Ltd.
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| Announcement date: | Dec. 1
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| Amended: | Dec. 14
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| Settlement date: | Dec. 31
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| Stock price: | C$1.94 at close Dec. 14
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