By Devika Patel
Knoxville, Tenn., Aug. 14 - BNK Petroleum Inc. said it raised C$25.16 million in a private placement of stock. The deal priced for C$20.3 million with a C$4.81 million greenshoe on July 18.
The company sold 13.6 million common shares at C$1.85 per share. Of the shares sold, 2.6 million were part of the fully exercised greenshoe.
The deal was conducted by a syndicate of underwriters.
Proceeds will be used for exploration and development activities in the Tishomingo gas field in Oklahoma and 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$25.16 million (including C$4.81 million greenshoe)
|
| Shares: | 13.6 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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