New Issue: Open Range Energy settles C$7 million stock sale; greenshoe exercised

By Devika Patel

Knoxville, Tenn., Dec. 20 - Open Range Energy Corp. said it completed a private placement of stock, raising C$7 million. The deal priced for C$5 million with a C$2 million greenshoe on Dec. 5.

The company sold 2,029,100 flow-through common shares at C$3.45 per share. Of those shares, 579,800 shares were part of the fully exercised greenshoe.

Cormark Securities Inc. led a syndicate of underwriters for this deal that also included Tristone Capital Inc., GMP Securities LP, Canaccord Capital Corp. and Haywood Securities Inc.

Proceeds will be used for exploration and development.

Based in Calgary, Alta., Open Range Energy is an oil and natural gas exploration company.

Issuer:	Open Range Energy Corp.
Issue:	Flow-through common shares
Amount:	C$7 million, including C$2 million from greenshoe
Shares:	2,029,100, including 579,800 shares from greenshoe
Price:	C$3.45
Warrants:	No
Underwriters:	Cormark Securities Inc. (lead), Tristone Capital Inc., GMP Securities LP, Canaccord Capital Corp., Haywood Securities Inc.
Pricing date:	Dec. 5
Settlement date:	Dec. 20
Stock symbol:	Toronto: ONR
Stock price:	C$2.85 at close Dec. 4

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