By Laura Lutz
Washington, Nov. 28 - Grand Petroleum Inc. negotiated a private placement of flow-through and non flow-through shares for C$10,000,800.
The company plans to sell 1 million flow-through shares at C$5.00 each and 1.316 million non flow-through shares at C$3.80 each.
The deal will be underwritten by a syndicate co-led by Haywood Securities Inc. and Canaccord Capital Corp. and including Orion Securities Inc. and Tristone Capital Inc.
Settlement is expected on Dec. 18, subject to regulatory approval.
Following the placement, Grand will have 28,259,523 common shares outstanding.
Grand is a Calgary, Alta.-based energy company.
Issuer: | Grand Petroleum Inc.
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Issue: | Flow-through and non flow-through shares
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Amount: | C$10,000,800
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Underwriters: | Haywood Securities Inc. (lead), Canaccord Capital Corp. (lead), Orion Securities Inc., Tristone Capital Inc
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Pricing date: | Nov. 28
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Settlement date: | Dec. 18
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Stock symbol: | TSX Venture: GPP
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Stock price: | C$3.99 at close Nov. 27
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Flow-through shares
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Shares: | 1 million
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Price: | C$5.00
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Warrants: | No
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Non flow-through shares
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Shares: | 1.316 million
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Price: | C$3.80
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Warrants: | No
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