By Sheri Kasprzak
New York, Nov. 15 - Tusk Energy Corp. said it arranged a private placement for up to C$24,551,250.
The company intends to sell 3.1 million class A special warrants at C$4.05 each and 2,285,000 class B special warrants, issued on a flow-through basis, at C$5.25 each.
The deal is being placed through a syndicate of underwriters led by Orion Securities Inc. and including Westwind Partners Inc., Canaccord Capital Corp., Acumen Capital Partners and Brant Securities Ltd.
The special warrants are exchangeable on a one-for-one basis for class A shares and class B flow-through shares once it files a prospectus for the underlying shares.
The deal is expected to close Nov. 30.
Proceeds will be used for ongoing exploration and development.
Based in Calgary, Alta., Tusk is an oil and natural gas exploration company.
| Issuer: | Tusk Energy Corp.
|
| Issue: | Special warrants exchangeable for one class A share and one class B flow-through share
|
| Amount: | C$24,551,250
|
| Underwriters: | Orion Securities Inc. (lead), Westwind Partners Inc., Canaccord Capital Corp., Acumen Capital Partners, Brant Securities Ltd.
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 30
|
| Stock price: | C$4.30 at close Nov. 14
|
|
|
| Class A special warrants
|
| Special warrants: | 3.1 million
|
| Price: | C$4.05
|
| Warrants: | No
|
|
|
| Class B special warrants
|
| Special warrants: | 2,285,000
|
| Price: | C$5.25
|
| 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.
