By Sheri Kasprzak
New York, March 2 - Magnus Energy Inc. said it has settled a C$10,110,996 private placement of stock, which includes a partly exercised over-allotment option.
The company sold 2,304,445 class A shares at C$1.35 each, including 32,145 shares exercised through the greenshoe by a syndicate of underwriters led by Dundee Securities Corp. The company also issued 3,954,800 flow-through shares at C$1.77 each.
The deal priced Feb. 8 as a C$10,000,101 offering of 2,222,300 class A shares and 3,954,800 flow-through shares.
The syndicate had been granted a greenshoe for 740,800 class A shares.
The deal is expected to close March 2.
Calgary, Alta.-based Magnus is an oil and natural gas exploration company.
| Issuer: | Magnus Energy Inc.
|
| Issue: | Class A flow-through and non flow-through shares
|
| Amount: | C$10,110,996
|
| Underwriters: | Dundee Securities Corp. (lead)
|
| Pricing date: | Feb. 8
|
| Settlement date: | March 2
|
| Stock symbol: | TSX Venture: MEI-A
|
| Stock price: | C$1.45 at close Feb. 8
|
| Stock price: | C$1.22 at close March 1 (last trade)
|
|
|
| Non flow-through shares
|
| Shares: | 2,304,445 (includes greenshoe for 32,145 shares)
|
| Price: | C$1.35
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 3,954,800
|
| Price: | C$1.77
|
| Warrants: | No
|
|
|
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