By Sheri Kasprzak
New York, Aug. 4 - Burmis Energy Inc. plans to raise C$11.1 million in a private placement of stock.
The offering includes 3 million shares at C$3.70 each.
The deal, which is scheduled to close Aug. 24, is being placed through a syndicate of underwriters led by FirstEnergy Capital Corp. and including Acumen Capital Finance Partners Ltd., CIBC World Markets Inc. and Westwind Partners Inc.
Proceeds will be used to expand the company's 2005 capital program. The remainder will be used for general corporate purposes.
Calgary, Alta.-based Burmis is an oil and natural gas exploration company.
| Issuer: | Burmis Energy Inc.
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| Issue: | Stock
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| Amount: | C$11.1 million
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| Shares: | 3 million
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| Price: | C$3.70
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| Warrants: | No
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| Underwriters: | FirstEnergy Capital Corp. (lead); Acumen Capital Finance Partners Ltd., CIBC World Markets Inc. and Westwind Partners Inc.
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| Pricing date: | Aug. 4
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| Settlement date: | Aug. 24
|
| Stock price: | C$3.90 at close Aug. 3
|
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