By Devika Patel
Knoxville, Tenn., Nov. 15 - Fairmount Energy Inc. announced it has raised C$5 million in a private placement of stock. The deal priced on Oct. 31 for C$3,000,200 with a C$2,000,600 over-allotment option. On Nov. 14, Fairmount announced that the underwriting syndicate fully exercised their greenshoe.
The company sold a total of 3,572,000 flow-through common shares at C$1.40 per share. Of those shares, 2,143,000 were sold on a bought-deal basis and 296,500 shares were bought by insiders.
The underwriting syndicate was led by Dundee Securities Corp. and includes Acumen Capital Finance Partners Ltd., GMP Securities LP and Blackmont Capital Inc. The underwriters received a 6% cash commission.
Proceeds will be used for exploration.
Based in Calgary, Alta., Fairmount Energy explores for and produces petroleum and natural gas in Western Canada.
| Issuer: | Fairmount Energy Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$5,000,800
|
| Shares: | 3,572,000
|
| Price: | C$1.40
|
| Warrants: | No
|
| Underwriters: | Dundee Securities Corp. (lead), Acumen Capital Finance Partners Ltd., GMP Securities LP, Blackmont Capital Inc.
|
| Fees: | 6% in cash
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 15
|
| Stock symbol: | TSX Venture: FMT
|
| Stock price: | C$1.25 at close Oct. 30
|
© 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.
