By Sheri Kasprzak
Atlanta, Jan. 18 - Mission Oil & Gas Inc. has negotiated with a syndicate of underwriters to raise C$26.4 million in a private placement.
The offering includes 4 million shares at C$6.60 each.
The underwriting syndicate is led by Orion Securities Inc. and includes GMP Securities Ltd., Tristone Capital Inc., FirstEnergy Capital Corp., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Canaccord Capital Corp., First Associates Investments Inc. and Haywood Securities Inc.
Even though the offering is expected to be arm's length, some officers and directors will participate in the deal, according to a statement from the company.
The transaction is scheduled to close Jan. 31.
Mission, based in Calgary, Alta., is an oil and gas exploration, development and production company. It plans to use the proceeds from the offering for capital expenditures and potential strategic acquisition opportunities.
| Issuer: | Mission Oil & Gas Inc.
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| Issue: | Stock
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| Amount: | C$26.4 million
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| Shares: | 4 million
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| Price: | C$6.60
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| Warrants: | No
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| Placement agent: | Orion Securities Inc. (lead); GMP Securities Ltd.; Tristone Capital Inc.; FirstEnergy Capital Corp.; BMO Nesbitt Burns Inc.; CIBC World Markets Inc.; Canaccord Capital Corp.; First Associates Investments Inc.; Haywood Securities Inc.
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| Announcement date: | Jan. 18
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| Settlement date: | Jan. 31
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| Stock price: | C$7.30 at close Jan. 17
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