By Devika Patel
Knoxville, Tenn., June 23 - North Peace Energy Corp. said it completed a bought-deal offering of units, raising C$11.61 million. The deal priced for up to C$10 million with a C$1.5 million greenshoe on June 9.
The company sold 21,109,000 units at C$0.55 apiece. Of the units, 2.73 million were part of the fully exercised greenshoe.
Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.75 for 18 months.
The deal was conducted by a syndicate co-led by GMP Securities LP and Genuity Capital Markets.
The majority of the proceeds will be used to fund the expansion of the CSS pilot project.
North Peace is an oil sands company based in Calgary, Alta.
| Issuer: | North Peace Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$11,609,950 (including C$1,501,500 greenshoe)
|
| Units: | 21,109,000
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.75
|
| Agents: | GMP Securities LP, Genuity Capital Markets (co-leads)
|
| Pricing date: | June 9
|
| Settlement date: | June 23
|
| Stock symbol: | TSX Venture: NPE
|
| Stock price: | C$0.61 at close June 8
|
| Market capitalization: | C$32.5 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
