By Devika Patel
Knoxville, Tenn., July 18 - BNK Petroleum Inc. announced it will conduct a C$20.35 million private placement of stock.
The company will sell 11 million common shares at C$1.85 per share.
The deal will be conducted by a syndicate of underwriters. The underwriters have a greenshoe of C$4.81 million, or 2.6 million shares.
Settlement is expected Aug. 14.
Proceeds will be used for general corporate purposes.
Based in Calgary, Alta., BNK Petroleum is an oil and gas, exploration and production company.
| Issuer: | BNK Petroleum Inc.
|
| Issue: | Common shares
|
| Amount: | C$20.35 million
|
| Shares: | 11 million
|
| Price: | C$1.85
|
| Warrants: | No
|
| Pricing date: | July 18
|
| Settlement date: | Aug. 14
|
| Stock symbol: | Toronto: BKX
|
| Stock price: | C$2.00 at close July 17
|
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