By Sheri Kasprzak
Atlanta, March 10 - Delphi Energy Corp. said it plans to raise C$7 million in a private placement of flow-through shares.
The offering includes 1,590,910 flow-through shares at C$4.40 each.
An underwriting syndicate led by GMP Securities Ltd. and Dundee Securities Corp. has a greenshoe for up to C$3 million in additional proceeds.
Based in Calgary, Alta., Delphi is an oil and natural gas exploration, development and production company. It plans to use the proceeds for exploration on its oil and natural gas properties.
| Issuer: | Delphi Energy Corp.
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| Issue: | Flow-through shares
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| Amount: | C$7 million
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| Greenshoe: | Up to C$3 million
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| Shares: | 1,590,910
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| Price: | C$4.40
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| Warrants: | No
|
| Underwriters: | GMP Securities Ltd. (lead); Dundee Securities Corp. (lead)
|
| Pricing date: | March 9
|
| Stock price: | C$3.80 at close March 9
|
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