By Devika Patel
Knoxville, Tenn., Sept. 25 - Triton Energy Corp. announced it has entered into an agreement with its syndicate of underwriters to increase its previously announced private placement of shares to C$5 million from C$4 million.
The company now will sell 6,944,500 flow-through common shares, up from 5,555,556 shares, at C$0.72 apiece.
As previously reported, the syndicate is led by Acumen Capital Finance Partners Ltd. and includes Canaccord Capital Corp. and CIBC World Markets Inc.
Settlement is expected around Oct. 16.
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
|
| Stock symbol: | TSX Venture: TEZ
|
| Stock price: | C$0.60 at close Sept. 24
|
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