Deal to be conducted alongside C$15 million public offering of stock
By Devika Patel
Knoxville, Tenn., Dec. 16 – Toro Oil & Gas Ltd. said it will raise C$5.01 million in a non-brokered private placement of stock with a C$750,885 greenshoe.
The company will sell 4.43 million flow-through common shares at C$1.13 each.
The company also plans a C$15 million public sale of common shares at C$1.00 per share, with a C$2.25 million greenshoe. The public offering will be conducted by a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including Dundee Securities Ltd., National Bank Financial Inc. and GMP Securities LP.
Proceeds from the private sale will be used for exploration.
The oil and natural gas producer is based in Calgary, Alta.
| Issuer: | Toro Oil & Gas Ltd.
|
| Issue: | Flow-through common shares
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| Amount: | C$5,005,900
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| Greenshoe: | C$750,885
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| Shares: | 4.43 million
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| Price: | C$1.13
|
| Warrants: | No
|
| Pricing date: | Dec. 16
|
| Stock symbol: | TSX Venture: TOO
|
| Market capitalization: | C$87.14 million
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