By Laura Lutz
Des Moines, Sept. 28 - Magnus Energy Inc. increased the over-allotment option in its previously announced private placement of stock by about C$2 million, for a total placement size of about C$9 million.
The deal priced as a C$5,005,900 offering of 1.74 million non flow-through shares at C$1.15 each and C$1.99 million flow-through shares at C$1.51 each.
The greenshoe now includes 1,305,000 non flow-through shares and 1,656,000 flow-through shares. It was originally for 870,000 non flow-through shares and 660,000 flow-through shares.
The shares will be issued through a syndicated of underwriters led by Dundee Securities Corp. and including Tristone Capital Inc.
Settlement is expected on Oct. 17.
Proceeds will be used for expansion and development of the company's core properties.
Calgary, Alta.-based Magnus is an oil and gas company focused on properties in Western Canada.
| Issuer: | Magnus Energy Inc.
|
| Issue: | Class A shares and class A flow-through shares
|
| Amount: | C$5,005,900
|
| Underwriters: | Dundee Securities Corp. (lead), Tristone Capital Inc.
|
| Pricing date: | Sept. 26
|
| Amended: | Sept. 28
|
| Stock symbol: | TSX Venture: MEI.A
|
| Stock price: | C$1.25 at close on Sept. 25
|
| Stock price: | C$1.29
|
|
|
| Non flow-through shares
|
| Shares: | 1.74 million
|
| Price: | C$1.15
|
| Greenshoe: | For 1.305 million shares
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 1.99 million
|
| Price: | C$1.51
|
| Greenshoe: | For 1.656 million shares
|
| Warrants: | No
|
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