By Laura Lutz
Des Moines, July 5 - Orca Exploration Group Inc. settled a private placement of shares for C$34.5 million, including a fully exercised greenshoe for C$4,500,180.
The company sold 2.5 million class B common shares at C$13.80. The greenshoe consisted of 326,100 shares.
The deal was underwritten by a syndicate led by Haywood Securities Inc. and including Research Capital Corp.
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$34.5 million
|
| Shares: | 2.5 million (includes greenshoe for 326,100 shares)
|
| Price: | C$13.80
|
| Warrants: | No
|
| Underwriters: | Haywood Securities Inc. (lead), Research Capital Corp.
|
| Pricing date: | June 19
|
| Settlement date: | July 5
|
| Stock symbol: | TSX Venture: ORC.B
|
| Stock price: | C$14.15 at close June 19
|
| Stock price: | C$14.30 at close July 5
|
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