By Devika Patel
Knoxville, Tenn., Oct. 16 - Triton Energy Corp. announced it has closed a C$4,812,840 tranche of its C$5 million private placement. The remaining C$187,200 is slated to close on Oct. 18.
The deal priced on Sept. 24 and was upsized from C$4 million on Sept. 25.
As previously reported, the company will sell a total of 6,944,500 flow-through common shares at C$0.72 apiece.
The deal is being conducted by a syndicate of underwriters led by Acumen Capital Finance Partners Ltd. and includes Canaccord Capital Corp. and CIBC World Markets Inc.
Settlement is expected on Oct. 16 and Oct. 18
Proceeds will be used for exploration.
Triton is an oil and natural gas company based in Calgary, Alta.
| Issuer: | Triton Energy Corp.
|
| Issue: | Stock
|
| Amount: | C$5 million
|
| Shares: | 6,944,500
|
| Price: | C$0.72
|
| Warrants: | No
|
| Underwriters: | Acumen Capital Finance Partners Ltd. (lead), Canaccord Capital Corp. and CIBC World Markets Inc.
|
| Pricing date: | Sept. 24
|
| Upsized: | Sept. 25
|
| Settlement date: | Oct. 16 (for C$4,812,840); Oct. 18 (for C$187,200)
|
| Stock symbol: | TSX Venture: TEZ
|
| Stock price: | C$0.60 at close Sept. 24
|
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