By Sheri Kasprzak
Atlanta, Feb. 25 - Orleans Energy Ltd. has wrapped up a private placement of stock for C$14 million after exercising a C$2 million greenshoe.
The company issued a total of 4,666,667 shares at C$3 each, 666,667 of which were sold through an over-allotment option.
The deal was placed through an underwriting syndicate led by GMP Securities Ltd. and including Peters & Co. Ltd. and Tristone Capital Inc.
The offering was first announced Feb. 10 as a C$12 million deal of 4 million shares.
Based in Calgary, Alta., Orleans is an oil and natural gas company. It plans to use the proceeds from the private placement for its 2005 capital budget activities on the recently acquired Halkirk properties. The remainder will be used for general corporate purposes.
| Issuer: | Orleans Energy Ltd.
|
| Issue: | Stock
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| Amount: | C$14 million (includes greenshoe for C$2 million)
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| Shares: | 4,666,667 (includes greenshoe for 666,667)
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| Price: | C$3.00
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| Warrants: | No
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| Underwriters: | GMP Securities Ltd. (lead); Peters & Co. Ltd.; Tristone Capital Inc.
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| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 24
|
| Stock price: | C$3.20 at close Feb. 10
|
| Stock price: | C$3.90 at close Feb. 24
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