Integral Wealth and GMP Securities lead the agent syndicate for offer
By Devika Patel
Knoxville, Tenn., Dec. 17 – Manitok Energy Inc. said it will raise between C$10 million and C$20 million in a private placement of stock.
The company will sell common shares at C$0.13 apiece and flow-through common shares at C$0.15 apiece on a best-efforts basis. It will only sell up to C$6 million in flow-through shares.
The prices per share are identical and a 15.39% premium to C$0.13, the Dec. 16 closing share price.
The deal will be conducted by a syndicate of agents co-led by Integral Wealth Securities Ltd. and GMP Securities LP, with a syndicate including Dundee Securities Inc., National Bank Financial Inc. and Canaccord Genuity Group Inc.
Proceeds will be used for exploration, to reduce bank debt, for Manitok’s 2016 capital program and for general corporate purposes.
The oil and gas company is based in Calgary, Alta.
| Issuer: | Manitok Energy Inc.
|
| Issue: | Flow-through common shares, common shares
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| Amount: | C$10 million (minimum), C$20 million (maximum)
|
| Warrants: | No
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| Agent: | Integral Wealth Securities Ltd., and GMP Securities LP (co-leads), Dundee Securities Inc., National Bank Financial Inc. and Canaccord Genuity Group Inc.
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| Pricing date: | Dec. 17
|
| Stock symbol: | TSX Venture: MEI
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| Stock price: | C$0.13 at close Dec. 16
|
| Market capitalization: | C$11.91 million
|
|
|
| Flow-through shares
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| Amount: | C$6 million (maximum)
|
| Price: | C$0.15
|
|
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| Common shares
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| Price: | C$0.13
|
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