Non-brokered offering conducted with C$86.51 million prospectus sale
By Devika Patel
Knoxville, Tenn., July 7 – Kelt Exploration Ltd. said it completed a C$3.54 million non-brokered private placement of stock. The deal priced on June 15.
The company sold 400,000 common shares at C$8.85 each. The price per share represents a 3.7% discount to the June 12 closing share price of C$9.19.
The company also said it completed an C$86,508,750 prospectus offering in which it sold 9,775,000 shares. The prospectus sale was conducted by a syndicate of underwriters led by Peters & Co. Ltd. and including FirstEnergy Capital Corp., CIBC World Markets Inc., National Bank Financial Inc., RBC Capital Markets, Cormark Securities Inc., Scotia Capital Inc., AltaCorp Capital Inc., GMP Securities LP, Macquarie Capital Markets Canada Ltd., TD Securities Inc., Credit Suisse Securities (Canada), Inc., Desjardins Securities Inc. and Raymond James Ltd.
Proceeds from both offerings will be used to pay down credit facilities and partially finance Kelt's 2015 expanded capital expenditure programs and for general working capital purposes.
Kelt is a Calgary, Alta.-based oil and gas company focused on exploration, development and production of crude oil and natural gas resources.
| Issuer: | Kelt Exploration Ltd.
|
| Issue: | Common stock
|
| Amount: | C$3.54 million
|
| Shares: | 400,000
|
| Price: | C$8.85
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 15
|
| Settlement date: | July 7
|
| Stock symbol: | Toronto: KEL
|
| Stock price: | C$9.19 at close June 12
|
| Market capitalization: | C$1.33 billion
|
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