By Sheri Kasprzak
New York, July 6 - Flagship Energy Inc. said the over-allotment option on its previously announced private placement was exercised bringing the total proceeds to C$15,000,600.
The company sold 2,174,000 class B flow-through shares at C$6.90 each, including the greenshoe for 724,000 shares exercised by a syndicate of underwriters led by GMP Securities LP.
The syndicate also includes Sprott Securities Inc.
The deal priced on June 19 as a C$10 million offering of 1.45 million shares.
Proceeds will be used for Canadian resources expenses.
Based in Calgary, Alta., Flagship is an oil and natural gas exploration company.
| Issuer: | Flagship Energy Inc.
|
| Issue: | Class B flow-through shares
|
| Amount: | C$15,000,600
|
| Shares: | 2,174,000 (includes 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
|
| Stock price: | C$5.90 at close July 6
|
|
|
© 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.
