Invicta Oil & Gas plans C$40 million private placement of shares

By Devika Patel

Knoxville, Tenn., Oct. 1 - Invicta Oil & Gas Ltd. announced it plans to price a C$40 million private placement of shares.

The deal will be conducted by a syndicate of underwriters led by Westwind Partners Inc. and that includes Orion Securities Inc., Dundee Securities Corp. and Research Capital Corp.

The agents will have a greenshoe of an additional C$20 million of common shares.

The deal is expected to settle on Oct. 31.

Proceeds will be used to acquire 90% of the shares of Cheetah Oil & Gas Ltd.

Invicta Oil & Gas is an oil and gas company based in Vancouver, B.C.

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