By Sheri Kasprzak
New York, Feb. 8 - Magnus Energy Inc. said it aims to raise C$10,000,101 in a private placement offered through a syndicate of underwriters led by Dundee Securities Corp.
The offering includes 2,222,300 class A shares at C$1.35 each and 3,954,800 class A flow-through shares at C$1.77 each.
The syndicate has an over-allotment option for up to 740,800 additional class A shares.
Proceeds will be used for development of the company's properties.
The deal is expected to close Feb. 28.
Calgary, Alta.-based Magnus is an oil and natural gas exploration company.
| Issuer: | Magnus Energy Inc.
|
| Issue: | Class A flow-through and non flow-through shares
|
| Amount: | C$10,000,101
|
| Underwriters: | Dundee Securities Corp. (lead)
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 28
|
| Stock symbol: | TSX Venture: MEI
|
| Stock price: | C$1.45 at close Feb. 7
|
|
|
| Non flow-through shares
|
| Shares: | 2,222,300
|
| Greenshoe: | For 740,800 shares
|
| Price: | C$1.35
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 3,954,800
|
| Price: | C$1.77
|
| Warrants: | No
|
|
|
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