By Devika Patel
Knoxville, Tenn., Aug. 14 - Glamis Resources Ltd. said it settled a C$90 million private placement of shares. The deal priced for C$75 million with a C$15 million greenshoe on July 23.
Glamis sold 72 million class A shares at C$1.25 per share on a bought-deal basis. Of the shares, 12 million were part of the fully exercised greenshoe.
The deal was conducted by a syndicate of underwriters co-led by GMP Securities LP and Macquarie Capital Markets Canada Ltd. and including FirstEnergy Capital Corp., BMO Capital Markets, Cormark Securities Inc., National Bank Financial Inc. and Scotia Capital Inc.
Proceeds will be used to fund a portion of the purchase price for the company's planned acquisition of Bonavista.
Glamis is an oil and gas company based in Calgary, Alta.
| Issuer: | Glamis Resources Ltd.
|
| Issue: | Class A shares
|
| Amount: | C$90 million (including C$15 million greenshoe)
|
| Shares: | 72 million
|
| Price: | C$1.25
|
| Warrants: | No
|
| Agents: | GMP Securities LP and Macquarie Capital Markets Canada Ltd. (co-leads), FirstEnergy Capital Corp., BMO Capital Markets, Cormark Securities Inc., National Bank Financial Inc. and Scotia Capital Inc.
|
| Pricing date: | July 23
|
| Settlement date: | Aug. 14
|
| Stock symbol: | TSX Venture: GLM.A
|
| Stock price: | C$1.73 at close July 22
|
| Market capitalization: | C$52.7 million
|
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