By Sheri Kasprzak
Atlanta, Nov. 17 - Exceed Energy Inc. closed a C$4.7 million private placement, upsized from the previously announced C$4 million.
The company sold 5,172,413 flow-through class A shares at C$0.58 and 3,794,055 class A shares at C$0.45.
On Nov. 3, the company announced it planned to raise C$4 million through the placement of 5,172,413 flow-through class A shares and 2,222,222 class A shares at the same prices.
GMP Securities Ltd. exercised a greenshoe for an additional 1,571,833 class A shares.
Exceed, based in Calgary, Alta., is an oil and gas exploration, development and exploitation company. It plans to use the proceeds from the financing for ongoing exploration and development and for general corporate purposes.
| Issuer: | Exceed Energy Inc.
|
| Issue: | Class A flow-through shares and class A common shares
|
| Amount: | C$4.7 million
|
| Placement agent: | GMP Securities Inc.
|
| Announcement date: | Nov. 3
|
| Settlement date: | Nov. 17
|
| Stock price: | C$0.50 at close Nov. 3
|
| Stock price: | C$0.40 at close Nov. 17
|
|
|
| Flow-through shares
|
| Issue: | Class A flow-through common shares
|
| Shares: | 5,172,413
|
| Price: | C$0.58
|
| Warrants: | No
|
|
|
| Common shares:
|
| Issue: | Class A common shares
|
| Shares: | 3,794,055
|
| Price: | C$0.45
|
| Warrants: | No
|
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