By Sheri Kasprzak
New York, Aug. 9 - Ember Resources Inc. said it plans to raise C$50.05 million in a private placement.
The offering includes 7 million shares at C$7.15 each.
The deal is being placed through a syndicate of underwriters led by FirstEnergy Capital Corp. and GMP Securities Inc., and including TD Securities Inc., CIBC World Markets Inc., Canaccord Capital Corp. and Raymond James Ltd.
The offering is slated to close later this month.
Proceeds will be used for drilling on the company's Mannville properties and for development drilling on its Horseshoe Canyon properties.
Based in Calgary, Alta., Ember is a coal bed methane exploration company.
| Issuer: | Ember Resources Inc.
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| Issue: | Stock
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| Amount: | C$50.05 million
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| Shares: | 7 million
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| Price: | C$7.15
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| Warrants: | No
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| Underwriters: | FirstEnergy Capital Corp. (lead); GMP Securities Inc. (lead); TD Securities Inc.; CIBC World Markets Inc.; Canaccord Capital Corp.; Raymond James Ltd.
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| Pricing date: | Aug. 9
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| Stock price: | C$7.27 at close Aug. 8
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