By Sheri Kasprzak
Atlanta, June 14 - Accrete Energy Inc. said the over-allotment option on its previously announced C$10,875,000 private placement has been exercised, bringing the total proceeds raised in the offering to C$14.5 million.
The company sold a total of 2 million shares at C$7.25 each. A total of 500,000 shares were sold under a greenshoe exercised by a syndicate of underwriters led by GMP Securities Ltd. and including Fraser MacKenzie Ltd., McFarlane Gordon Inc., Dundee Securities Corp. and Salman Partners Inc.
The deal was first announced May 31.
Based in Calgary, Alta., Accrete is an oil and natural gas exploration and development company. The proceeds will be used for capital expenditures and general corporate purposes.
| Issuer: | Accrete Energy Inc.
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| Issue: | Stock
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| Amount: | C$14.5 million
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| Shares: | 2 million (includes greenshoe for 500,000 shares)
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| Price: | C$7.25
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| Warrants: | No
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| Underwriters: | GMP Securities Ltd. (lead); Fraser MacKenzie Ltd.; McFarlane Gordon Inc.; Dundee Securities Corp.; Salman Partners Inc.
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| Pricing date: | May 31
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| Settlement date: | June 14
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| Stock price: | C$7.40 at close May 31
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| Stock price: | C$8.25 at close June 14
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