By Laura Lutz
Des Moines, June 19 - Orca Exploration Group Inc. arranged a private placement of shares for C$29,999,820.
The company plans to sell 2,173,900 class B common shares at C$13.80.
The deal will be underwritten by a syndicate led by Haywood Securities Inc. and including Research Capital Corp.
The underwriters have a greenshoe for up to 326,100 additional shares. The greenshoe is exercisable until 24 hours before closing.
Proceeds will be used to secure new oil exploration assets and for working capital.
Orca is an oil and gas exploration company based in Tortola, British Virgin Islands.
| Issuer: | Orca Exploration Group Inc.
|
| Issue: | Class B common shares
|
| Amount: | C$29,999,820
|
| Shares: | 2,173,800
|
| Greenshoe: | For 326,100 shares
|
| Price: | C$13.80
|
| Warrants: | No
|
| Underwriters: | Haywood Securities Inc. (lead), Research Capital Corp.
|
| Pricing date: | June 19
|
| Stock symbol: | TSX Venture: ORC.B
|
| Stock price: | C$14.15 at close June 19
|
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