Investor Caisse de depot buys company common shares at C$3.40 apiece
By Devika Patel
Knoxville, Tenn., March 23 - Storm Resources Ltd. said it completed a C$23.62 million private placement of stock. The sale priced for C$25.16 million on Jan. 20 and raised C$8 million through agents and C$15.62 million on a non-brokered basis. Caisse de depot et placement du Quebec invested C$8 million on Feb. 22.
The company sold 6,946,000 common shares at C$3.40 per share. It sold 2,353,000 shares to Caisse de depot. The price per share is identical to the Jan. 19 closing share price.
The agents were Peters & Co. Ltd., FirstEnergy Capital Corp., National Bank Financial Inc. and Macquarie Capital Markets Canada Ltd.
Proceeds were used for the cash component of the company's C$122.6 million acquisition of Bellamont Exploration Ltd., which also settled Friday, and for general corporate purposes.
Storm is a Calgary, Alta., natural gas explorer.
| Issuer: | Storm Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$23,616,400
|
| Shares: | 6,946,000
|
| Price: | C$3.40
|
| Warrants: | No
|
| Agent: | Peters & Co. Ltd., FirstEnergy Capital Corp., National Bank Financial Inc. and Macquarie Capital Markets Canada Ltd. (for C$8,000,200), non-brokered (for C$15,616,200)
|
| Investor: | Caisse de depot et placement du Quebec (for C$8 million)
|
| Pricing date: | Jan. 20
|
| Settlement dates: | Feb. 22 (for C$8 million), March 23
|
| Stock symbol: | TSX Venture: SRX
|
| Stock price: | C$3.40 at close Jan. 19
|
| Market capitalization: | C$62.51 million
|
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