By Sheri Kasprzak
New York, Nov. 28 - Delphi Energy Corp. said it plans to raise C$12,001,275 in a private placement.
The offering includes 1,678,500 flow-through shares at C$7.15 each.
A syndicate of underwriters led by GMP Securities Ltd. and Dundee Securities Corp. has an over-allotment option for up to C$2 million.
Proceeds will be used for exploration on the company's Canadian oil and natural gas properties.
The deal is slated to close in mid-December.
Based in Calgary, Alta., Delphi is an oil and natural gas exploration, development and production company.
| Issuer: | Delphi Energy Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$12,001,275
|
| Greenshoe: | For up to C$2 million
|
| Shares: | 1,678,500
|
| Price: | C$7.15
|
| Warrants: | No
|
| Underwriters: | GMP Securities Ltd. (lead); Dundee Securities Corp. (lead)
|
| Pricing date: | Nov. 28
|
| Stock price: | C$5.75 at close Nov. 25
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
