By Laura Lutz
Washington, March 19 - Vero Energy Inc. arranged a private placement of shares for C$19.2 million.
The company plans to sell 1.5 million non flow-through shares at C$5.55 each and 1.5 million flow-through shares at C$7.25 each.
The underwriting syndicate will be co-led by GMP Securities LP and FirstEnergy Capital Corp. and include Westwind Partners Inc., Orion Securities Inc., Paradigm Capital Inc. and Tristone Capital Inc.
Settlement is expected on April 5.
Proceeds will be used for exploration, working capital and general corporate purposes.
Vero is a Calgary, Alta.-based oil and natural gas company.
| Issuer: | Vero Energy Inc.
|
| Issue: | Flow-through and non flow-through shares
|
| Amount: | C$19.2 million
|
| Underwriters: | GMP Securities LP (lead), FirstEnergy Capital Corp. (lead), Westwind Partners Inc., Orion Securities Inc., Paradigm Capital Inc., Tristone Capital Inc.
|
| Pricing date: | March 19
|
| Settlement date: | April 5
|
| Stock symbol: | Toronto: VRO
|
| Stock price: | C$5.80 at close March 16
|
|
|
| Flow-through shares
|
| Shares: | 1.5 million
|
| Price: | C$7.25
|
| Warrants: | No
|
|
|
| Non flow-through shares
|
| Shares: | 1.5 million
|
| Price: | C$5.55
|
| Warrants: | No
|
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