By Sheri Kasprzak
Atlanta, March 18 - Duvernay Oil Corp. announced a private placement of stock and then upsized it to C$40,825,000.
The offering includes 1.15 million flow-through shares at C$35.50 each.
The private placement was first announced Friday morning as a C$35.5 million offering of 1 million flow-through shares under the same terms.
The deal is being placed through a syndicate of underwriters led by Peters & Co. Ltd. and including FirstEnergy Capital Corp., Scotia Capital Inc., BMO Nesbitt Burns Inc., First Associates Investments Inc., Raymond James Ltd. and Sprott Securities Inc.
The deal is expected to close April 5.
Based in Calgary, Alta., Duvernay is an oil and natural gas exploration and development company. The proceeds will be used for exploration.
| Issuer: | Duvernay Oil Corp.
|
| Issue: | Flow-through shares
|
| Amount: | C$40,825,000
|
| Shares: | 1.15 million
|
| Price: | C$35.50
|
| Warrants: | No
|
| Underwriters: | Peters & Co. Ltd. (lead); FirstEnergy Capital Corp.; Scotia Capital Inc.; BMO Nesbitt Burns Inc.; First Associates Investments Inc.; Raymond James Ltd.; Sprott Securities Inc.
|
| Pricing date: | March 18
|
| Settlement date: | April 5
|
| Stock price: | C$29.50 at close March 17
|
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