By Devika Patel
Knoxville, Tenn., Nov. 19 - Canadian Superior Energy Inc. announced it closed an oversubscribed C$22.65 million private placement of stock. The deal priced for C$21 million on Oct. 31.
The company sold 6,472,500 flow-through common shares at C$3.50 per share.
Acumen Capital Finance Partners Ltd., Jennings Capital Inc. and Maison Placements Canada Inc. were the agents.
Proceeds will be used to ramp up the company's western Canadian operations.
Based in Calgary, Alta., Canadian Superior Energy is a crude oil and natural gas exploration and production company with an emphasis on exploring for and producing crude oil and natural gas in western Canada, Nova Scotia and Trinidad and Tobago.
| Issuer: | Canadian Superior Energy Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$22,653,750
|
| Shares: | 6,472,500
|
| Price: | C$3.50
|
| Warrants: | No
|
| Agents: | Acumen Capital Finance Partners Ltd., Jennings Capital Inc., Maison Placements Canada Inc.
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 19
|
| Stock symbol: | Toronto: SNG
|
| Stock price: | C$3.20 at close Oct. 30
|
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