By Laura Lutz
Washington, Feb. 9 - Duvernay Oil Corp. arranged a C$41.5 million private placement of flow-through shares.
The company plans to sell 1 million flow-through shares at C$41.50 each.
The deal will be placed through a syndicate of underwriters led by Peters & Co. Ltd. and including FirstEnergy Capital Corp., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Canaccord Capital Corp., Raymond James Ltd., Octagon Capital Corp. and Sprott Securities Inc.
Proceeds will be used for exploration.
Settlement is expected on Feb. 27.
Duvernay is an oil and natural gas company based in Calgary, Alta.
Issuer: | Duvernay Oil Corp.
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Issue: | Flow-through shares
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Amount: | C$41.5 million
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Shares: | 1 million
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Price: | C$41.50
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Warrants: | No
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Underwriters: | Peters & Co. Ltd. (lead), FirstEnergy Capital Corp., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Canaccord Capital Corp., Raymond James Ltd., Octagon Capital Corp., Sprott Securities Inc.
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Pricing date: | Feb. 9
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Settlement date: | Feb. 27
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Stock symbol: | Toronto: DDV
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Stock price: | C$32.50 at close Feb. 8
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