By Devika Patel
Knoxville, Tenn., Feb. 24 - Eaglewood Energy Inc. announced it has increased a private placement of special warrants to C$23.63 million from C$21 million. The deal priced Feb. 23.
The company will now sell 13.5 million special warrants, which are convertible into common shares, at C$1.75 per unit.
FirstEnergy Capital Corp. is the lead agent in a syndicate that includes Paradigm Capital Inc., Cormark Securities Inc. and Macquarie Capital Markets Canada Ltd.
Settlement is expected March 24.
Proceeds will be used for exploration and development, working capital and general corporate purposes.
Located in Calgary, Alta., Eaglewood is a petroleum exploration company.
| Issuer: | Eaglewood Energy Inc.
|
| Issue: | Special warrants convertible into common shares
|
| Amount: | C$23,625,000
|
| Special warrants: | 13.5 million
|
| Price: | C$1.75
|
| Warrants: | No
|
| Agent: | FirstEnergy Capital Corp. (lead), Paradigm Capital Inc., Cormark Securities Inc., Macquarie Capital Markets Canada Ltd.
|
| Pricing date: | Feb. 23
|
| Upsized: | Feb. 24
|
| Settlement date: | March 24
|
| Stock symbol: | TSX Venture: EWD
|
| Stock price: | C$1.83 at close Feb. 23
|
| Market capitalization: | C$107 million
|
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