By Sheri Kasprzak
New York, Oct. 27 - Orleans Energy Ltd. priced a private placement for up to C$15,122,500.
The offering includes up to 2.63 million flow-through shares at C$5.75 apiece.
The deal is being placed through a syndicate of underwriters led by Peters & Co., Ltd. and including GMP Securities LP, Dundee Securities Corp., Tristone Capital Inc. and Blackmont Capital Inc.
Proceeds will be used for Canadian exploration expenses before Dec. 31, 2007.
The deal is set to close Nov. 14.
Calgary, Alta.-based Orleans is an oil and natural gas exploration company.
| Issuer: | Orleans Energy Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$15,122,500
|
| Shares: | 2.63 million
|
| Price: | C$5.75
|
| Warrants: | No
|
| Underwriters: | Peters & Co., Ltd. (lead); GMP Securities LP; Dundee Securities Corp.; Tristone Capital Inc.; Blackmont Capital Inc.
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 14
|
| Stock symbol: | TSX Venture: OEX
|
| Stock price: | C$4.50 at close Oct. 26
|
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