By Sheri Kasprzak
New York, June 19 - Flagship Energy Inc. negotiated a C$10 million private placement.
The offering includes up to 1.45 million class B flow-through shares at C$6.90 each.
The deal is being placed through a syndicate of underwriters led by GMP Securities LP and including Sprott Securities Inc. The syndicate has a greenshoe for up to 724,000 additional shares.
Proceeds will be used for Canadian resources expenses.
The deal is slated to close July 6.
Based in Calgary, Alta., Flagship is an oil and natural gas exploration and development company.
| Issuer: | Flagship Energy Inc.
|
| Issue: | Class B flow-through shares
|
| Amount: | C$10,005,000
|
| Shares: | 1.45 million
|
| Greenshoe: | For 724,000 shares
|
| Price: | C$6.90
|
| Warrants: | No
|
| Underwriters: | GMP Securities LP (lead), Sprott Securities Inc.
|
| Pricing date: | June 19
|
| Settlement date: | July 6
|
| Stock symbol: | TSX Venture: FG
|
| Stock price: | C$5.90 at close June 16
|
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