By Sheri Kasprzak
New York, March 1 - Great Plains Exploration Inc. plans to raise up to C$8,000,250 in a private placement.
The company plans to sell up to 5,333,500 flow-through shares at C$1.50 each.
The deal is being placed through a syndicate of underwriters led by GMP Securities LP and including Dundee Securities Corp. and Acumen Capital Finance Partners Ltd. The syndicate has a greenshoe for up to 1,333,500 additional shares.
Proceeds will be used for capital expenses and general corporate purposes.
The deal is set to close March 22.
Based in Calgary, Alta., Great Plains is an oil and natural gas exploration company.
| Issuer: | Great Plains Exploration Inc.
|
| Issue: | Flow-through shares
|
| Amount: | C$8,000,250
|
| Shares: | 5,333,500
|
| Greenshoe: | For 1,333,500 shares
|
| Price: | C$1.50
|
| Warrants: | No
|
| Underwriters: | GMP Securities LP, Dundee Securities Corp., Acumen Capital Finance Partners Ltd.
|
| Pricing date: | March 1
|
| Settlement date: | March 22
|
| Stock symbol: | Toronto: GPX
|
| Stock price: | C$1.19 at close Feb. 28
|
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