By Sheri Kasprzak
New York, Dec. 20 - Birchcliff Energy Ltd. said it completed its previously announced private placement with a fully exercised over-allotment option for C$13,519,488.
The company issued 1,482,400 flow-through shares at C$9.12 each, including a greenshoe exercised by a syndicate of underwriters led by Griffiths McBurney LP for 548,245 shares.
The syndicate also included Sprott Securities Inc., Raymond James Ltd. and MGI Securities.
The deal was first announced Dec. 8 as a C$7,736,496 offering of up to 848,300 flow-through shares under the same terms.
Proceeds will be used for exploration and development expenses.
Based in Calgary, Alta., Birchcliff is an oil and natural gas exploration company.
| Issuer: | Birchcliff Energy Ltd.
|
| Issue: | Flow-through shares
|
| Amount: | C$13,519,488
|
| Shares: | 1,482,400 (includes greenshoe for 548,245 shares)
|
| Price: | C$9.12
|
| Warrants: | No
|
| Underwriters: | Griffiths McBurney, LP, Sprott Securities Ltd., Raymond James Ltd., MGI Securities
|
| Pricing date: | Dec. 8
|
| Settlement date: | Dec. 20
|
| Stock price: | C$7.15 at close Dec. 7
|
| Stock price: | C$7.25 at close Dec. 20
|
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