By Sheri Kasprzak
New York, Sept. 29 - Diamond Tree Energy Ltd. said it has wrapped a C$17.85 million private placement with a fully exercised over-allotment option.
The company sold a total of 3.5 million shares at C$5.10 each, including a greenshoe for 500,000 shares exercised by a syndicate of underwriters led by Canaccord Capital Corp.
The other underwriters were Salman Partners Inc., Acumen Capital Finance Partners Ltd., Haywood Securities Inc. and First Associates Investments Inc.
The deal was first announced Sept. 6 as a C$15.3 million offering of up to 3 million shares under the same terms.
The proceeds from this private placement will be used to fund the increased capital program. The rest will be used for general corporate purposes.
Calgary, Alta.-based Diamond Tree is an oil and natural gas exploration company.
| Issuer: | Diamond Tree Energy Ltd.
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| Issue: | Stock
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| Amount: | C$17.85 million
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| Shares: | 3.5 million (includes greenshoe for 500,000 shares)
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| Price: | C$5.10
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| Warrants: | No
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| Underwriters: | Canaccord Capital Corp. (lead); Salman Partners Inc.; Acumen Capital Finance Partners Ltd.; Haywood Securities Inc.; First Associates Investments Inc.
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| Pricing date: | Sept. 6
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| Settlement date: | Sept. 29
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| Stock price: | C$5.30 at close Sept. 6
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| Stock price: | C$6.20 at close Sept. 29
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