By Sheri Kasprzak
New York, Dec. 15 - Tenergy Ltd. said it has concluded its previously announced private placement for C$10,527,742.
The company issued 1,166,667 flow-through shares at C$6.00 each and 766,900 non flow-through shares at C$4.60 each.
Acumen Capital Partners and GMP Securities LP were the placement agents.
The deal was first announced Nov. 28 as an C$8 million offering of up to 833,334 flow-through shares and 652,174 non flow-through shares but was upsized to C$11 million, under the same terms, on Nov. 29.
The proceeds will be used for the company's drilling program on the Tenaka natural gas project in British Columbia.
Based in Calgary, Alta., Tenergy is a natural gas exploration company formed by the reorganization of Purcell Energy Ltd. on Nov. 2.
| Issuer: | Tenergy Ltd.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$10,527,742
|
| Placement agents: | Acumen Capital Partners and GMP Securities Ltd.
|
| Pricing date: | Nov. 28
|
| Upsized: | Nov. 29
|
| Settlement date: | Dec. 15
|
| Stock price: | C$4.90 at close Nov. 28
|
| Stock price: | C$4.80 at close Dec. 15
|
|
|
| Flow-through shares
|
| Shares: | 1,166,667
|
| Price: | C$6.00
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 766,900
|
| Price: | C$4.60
|
| Warrants: | No
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
