By Sheri Kasprzak
Atlanta, Feb. 8 - Breaker Energy Ltd. announced and then upsized a private placement for C$13,166,000, as part of its acquisition of a natural gas property in Alberta.
The offering - upsized through exercise of the greenshoe - calls for 3.49 million common shares at C$2.90 each and 870,000 flow-through shares at C$3.50 each.
The deal was announced Tuesday morning as a C$10.15 million deal of 2.8 million common shares and 580,000 flow-through shares at the same prices.
The offering is being placed through a syndicate of underwriters led by Tristone Capital Inc. and including FirstEnergy Capital Corp., First Associates Investments Inc., Orion Securities Inc. and Canaccord Capital Corp.
The deal is expected to close Feb. 25.
Breaker said it plans to buy a long-life natural gas property central Alberta. The acquisition is expected to cost Breaker $14.15 million, and the company also has the option to assume or buy out the vendor's capital leasing totaling $2.5 million.
Breaker Energy, based in Calgary, Alta., is an oil and gas company.
| Issuer: | Breaker Energy Ltd.
|
| Issue: | Stock
|
| Amount: | C$13,166,000
|
| Underwriters: | Tristone Capital Inc. (lead); FirstEnergy Capital Corp.; First Associates Investments Inc.; Orion Securities Inc.; Canaccord Capital Corp.
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 25
|
| Stock price: | C$3.15 at close Feb. 8
|
|
|
| Common shares
|
| Shares: | 3.49 million
|
| Price: | C$2.90
|
| Warrants: | No
|
|
|
| Flow-through shares
|
| Shares: | 870,000
|
| Price: | C$3.50
|
| Warrants: | No
|
|
|
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