By Sheri Kasprzak
Atlanta, Feb. 25 - Burmis Energy Inc. said it will raise C$8.1 million in a private placement of stock.
The offering includes 3 million shares at C$2.70 each.
A syndicate of underwriters led by FirstEnergy Capital Corp. and including Acumen Capital Finance Partners Ltd., First Associates Investments Inc. and Clarus Securities Inc. also have an over-allotment option for up to 1 million additional shares. If the greenshoe is fully exercised, the company can expect to bring in C$10.8 million.
Also, Burmis said some of its insiders will subscribe for up to 165,000 shares under the same terms of the offering.
The deal is scheduled to close in March.
Based in Calgary, Alta., Burmis is an oil and natural gas exploration and development company. It plans to use the proceeds for ongoing exploration and development activities and for general corporate purposes.
| Issuer: | Burmis Energy Inc.
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| Issue: | Stock
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| Amount: | C$8.1 million
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| Shares: | 3 million
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| Greenshoe: | For up to 1 million shares
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| Price: | C$2.70
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| Warrants: | No
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| Underwriters: | FirstEnergy Capital Corp. (lead); Acumen Capital Finance Partners Ltd.; First Associates Investments Inc.; Clarus Securities Inc.
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| Pricing date: | Feb. 24
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| Stock price: | C$2.83 at close Feb. 24
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