By Devika Patel
Knoxville, Tenn., Feb. 5 - BNP Resources Inc. said in a press release it is increasing private placement of shares due to a "positive response." The deal priced Monday for C$3 million with a C$1 million greenshoe.
The company intended to sell up to 2,222,223 class A common shares at C$1.35 apiece, and Acumen Capital Finance Partners Ltd., the agent, had a greenshoe for an additional 740,741 shares.
The greenshoe was increased on Tuesday, the company said in the release, and now will include 1,111,111 shares for C$1.5 million. All other terms of the deal remain unchanged.
Proceeds will be used for capital expenditures on BNP's oil and gas properties and to supplement working capital.
Settlement is expected on Feb. 20.
BNP is an oil and natural gas exploration and development company based in Calgary, Alta.
| Issuer: | BNP Resources Inc.
|
| Issue: | Class A common shares
|
| Amount: | C$3 million
|
| Greenshoe: | For C$1.5 million (1,111,111 shares)
|
| Shares: | 2,222,223
|
| Price: | C$1.35
|
| Warrants: | No
|
| Agent: | Acumen Capital Finance Partners Ltd.
|
| Pricing date: | Feb. 4
|
| Amended: | Feb. 5
|
| Settlement date: | Feb. 20
|
| Stock symbol: | TSX Venture: BNX.A
|
| Stock price: | C$1.50 at close Feb. 1
|
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