Non-brokered deal prices at 24.39% discount, requires regulatory OK
By Susanna Moon
Chicago, Feb. 17 - Adira Energy Ltd. said it closed a C$6.5 million non-brokered private placement of shares with a fund managed by Soros Fund Management LLC.
The company issued 10,483,871 common shares at C$0.62 each.
The share price represents a 24.39% discount to the Feb. 16 closing price of C$0.82.
The full amount of the offering was subscribed for by Quantum Partners LP, a private investment fund managed by Soros Fund Management.
The offering is subject to TSX Venture Exchange approval.
The oil and gas exploration company is based in Vancouver, B.C.
| Issuer: | Adira Energy Ltd.
|
| Issue: | Stock
|
| Amount: | C$6.5 million
|
| Shares: | 10,483,871
|
| Price: | C$0.62
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Quantum Partners LP
|
| Settlement date: | Feb. 17
|
| Stock symbol: | Canada: ADL
|
| Stock price: | C$0.82 at close on Feb. 16
|
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