By Sheri Kasprzak
New York, May 10 - Bronco Energy Ltd. priced the C$28 million private placement the company announced earlier this month.
The offering includes up to 6.25 million shares at C$4.00 each and up to 600,000 flow-through shares at C$5.00 each.
The deal is being placed through a syndicate of agents led by RBC Capital Markets and including Blackmont Capital Inc. and Lightyear Capital Inc. The agents have an over-allotment option for up to 500,000 non flow-through shares.
The offering is slated to close May 19.
Proceeds will be used for exploration, development and acquisition expenses, as well as for general corporate purposes.
Bronco, located in Calgary, Alta., is an oil and natural gas exploration company.
| Issuer: | Bronco Energy Ltd.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$28 million
|
| Placement agents: | RBC Capital Markets (lead), Blackmont Capital Inc. and Lightyear Capital Inc.
|
| Pricing date: | May 10
|
| Settlement date: | May 19
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| Stock symbol: | TSX Venture: BCF
|
| Stock price: | C$4.87 at close May 9
|
|
|
| Flow-through shares
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| Shares: | 600,000
|
| Price: | C$5.00
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 6.25 million
|
| Price: | C$4.00
|
| Warrants: | No
|
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