By Sheri Kasprzak
Atlanta, March 17 - Canex Energy Inc. said it will raise up to C$10,125,000 in a private placement.
The offering includes up to 3.75 million shares at C$2.70 each.
An underwriting syndicate led by Tristone Capital Corp. and including First Associates Investments Inc. was granted an over-allotment option for up to 750,000 additional shares, exercisable up to 48 hours before closing.
The deal is expected to close April 7.
Based in Calgary, Alta., Canex is an oil and natural gas exploration, development and production company. It plans to use the proceeds from the deal for continued exploration and development.
| Issuer: | Canex Energy Inc.
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| Issue: | Stock
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| Amount: | C$10,125,000 (maximum)
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| Shares: | 3.75 million (maximum)
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| Greenshoe: | For up to 750,000 shares
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| Price: | C$2.70
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| Warrants: | No
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| Underwriters: | Tristone Capital Corp. (lead); First Associates Investments Inc.
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| Pricing date: | March 17
|
| Settlement date: | April 7
|
| Stock price: | C$2.90 at close March 17
|
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