Crude oil and natural gas company will use proceeds for exploration
By Devika Patel
Knoxville, Tenn., March 14 - Tourmaline Oil Corp. said it will conduct a C$36 million private placement of stock.
The company will sell 1.25 million flow-through common shares at C$28.80 apiece. The price per share represents a 24.68% premium to C$23.10, the March 13 closing share price.
The deal will be conducted by a syndicate of underwriters led by Peters & Co. Ltd. and including Scotia Capital Inc., FirstEnergy Capital Corp., National Bank Financial Inc., Stifel Nicolaus Canada Inc., CIBC World Markets Inc., TD Securities Inc. and Cormark Securities Inc.
Settlement is expected April 4.
Proceeds will be used for exploration.
The crude oil and natural gas company is based in Calgary, Alta.
| Issuer: | Tourmaline Oil Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$36 million
|
| Shares: | 1.25 million
|
| Price: | C$28.80
|
| Warrants: | No
|
| Agent: | Peters & Co. Ltd. (lead), Scotia Capital Inc., FirstEnergy Capital Corp., National Bank Financial Inc., Stifel Nicolaus Canada Inc., CIBC World Markets Inc., TD Securities Inc. and Cormark Securities Inc.
|
| Pricing date: | March 14
|
| Settlement date: | April 4
|
| Stock symbol: | Toronto: TOU
|
| Stock price: | C$23.10 at close March 13
|
| Market capitalization: | C$3.55 billion
|
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