By Laura Lutz
Des Moines, June 26 - Celtic Exploration Ltd. closed a private placement of units for C$45.92 million.
The company sold 1.6 million units at C$28.70 apiece.
Each unit consists of one share and one subscription receipt. Each subscription receipt will be exchangeable for one common share upon completion of Celtic's acquisition of assets in the Kaybob South area of Alberta. The acquisition is scheduled to close on June 28.
FirstEnergy Capital Corp. and GMP Securities LP led an underwriting syndicate that also included BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., TD Securities Inc., Orion Securities Inc. and Tristone Capital Inc.
Proceeds will be used for the asset acquisition, for capital expenditures and for general corporate purposes.
Celtic Exploration is an oil and gas exploration company based in Calgary, Alta.
| Issuer: | Celtic Exploration Ltd.
|
| Issue: | Units of one share and one subscription receipt exchangeable for one share
|
| Amount: | C$45.92 million
|
| Units: | 1.6 million
|
| Price: | C$28.70
|
| Warrants: | No
|
| Underwriters: | FirstEnergy Capital Corp. (lead), GMP Securities LP (lead), BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., TD Securities Inc., Orion Securities Inc., Tristone Capital Inc.
|
| Pricing date: | June 4
|
| Settlement date: | June 26
|
| Stock symbol: | Toronto: CLT
|
| Stock price: | C$14.70 at close June 4
|
| Stock price: | C$14.76 at close June 25
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
